First I would like to say I'm invested in Bitbay because I liked the idea itself and David in the team gave me enough confidence to invest my BTC.
Now, I think OP is asking legit questions and we would like to know what would be next step after ICO. 3000 BTC = $1230062.99
that's lot of money.
Well, depends...
Good marketing for a strong projects costs a lot more than that.
I see a lot of good projects out there in the wild (not crypto related), which are not going anywhere. They lack marketing.
Marketing is very expensive those days.
If they are raising those money for developing alone, then yes 3000 BTC is a lot of money for developing alone.
I hope it's for marketing and if it is then this coin can be amazing. BTC gets lot of investors because of marketing and altcoins lack in that factor and if that money gets used for marketing this coin has lot of value.
I'm trying to see what's the next step after ICO and I haven't heard anything regarding where would money go.
I have invested 2 BTC but would I invest further? Probably not until I hear regarding what would happen to the money right after ICO has ended.
Would they start marketing right away?
Would they wait for 6 months before they start marketing?
or more importantly would they drive Ferrari and buy a nice house in Florida with that money?

J/K
As an investors those are very legit questions.