Yes, even if you choose a top notch exchange and you have nothing to offer to the community, I don't think people will gonna invest. I guess by now people are smarter in checking the projects. And sometimes they are looking now for the actual product before spending money to crypto projects because they have had enough already. Relying on great promises is really not a thing anymore. They want tangible plans and products.
I don't think top notch exchange will accept them if they don't have something to offer on their community since if you look on binance they are actually doing a great performance on their IEO and most of the coin added on their launchpad got a higher chances of success rate that's why we are seeing them competitive compare to the other tokens who conduct a IEO on small tier exchange which turn scam immediately. I remember Probit is one of the example where scam IEO goes so we should take extra precaution on this exchange.
oh ok so op here missed something . i agree on you guys a project needs both and not just by looking forward being listed on a good exchange . for sure there are ieo that also listed on binance but they havent go enough investors because they are lacking of something that majority of people are looking for . also there are also ieo that became succesful on an exchange that are not really that popular. im not saying these exchange are bad tho