A new way to fund companies. Instead of selling parts, issue tokens that work like a cryptocurrency and promise they will entitle to some profits. Sell these for bitcoins. Recently some companies raised a billion USD that way (yes, billion)

The concern, that I share, is that this system is very vulnerable to Ponzi scheme. And unlike Bitcoin, the crash of the pyramid is not a feature in this system.

I think people are right to warn and forbid this thing. Pyramid scheme can have large-scale effect in an economy.

I think etherum provides way to do things more responsibly but I understand that authorities moved quickly when they saw anonymous companies with no products receiving a billion USD.

Even that will cause ripples when it collapses. You don't want it to grow more.