In the moment, we still have not figured out which form of fundraising is more effective than IEO, even many projects still conduct ICO & STO because they do not receive support from reputable crypto exchanges.
Binance is the largest crypto exchange in the world, its reputation ensures projects reach many investors, and the token price after listing is stable, not unexpectedly sold off. Most of Binance's IEOs in 2020 are profitable for investors.
I think it's just a period of slowdown for the IEO now, maybe because everyone wants to watch the US election IEO.