I actually don't have a problem with them raising the hard cap. In the world of stock market IPOs, it is very common to see adjustments to the exact price/size of the offering right up until immediately before it takes place.

People had a fit when Enigma did this, simply because most ICOs don't and because of the size of the increase. This is a legitimate concern. While I wouldn't consider it unusual to adjust size/price, the magnitude of the change was concerning.

Even without the increase, I feel that giving a startup $50 million or more so early in development is an absurd amount of money. This is the primary reason why I have elected not to participate and dropped my whitelist position.