The success of an IPO depends on many things, and some matter more than others. There has been a recent flight to the US for a listing by several UK companies, and the failure of Deliveroo to sustain its listing price could be taken as evidence for reinforcing that.
However, if a company goes to market with a sound operational record, and prospects of significant growth based on that, then even if it is at an early loss-making stage, it will generally list successfully in an established active market, wherever that may be. Ignoring operational fundamentals, though, will undermine this.
Investors are not naïve; the technology may be different, but can still be investable. Problems arise when other less tangible concerns are glossed over. Ultimately, investors care more about having shares in a company that will still be there and growing in a few years' time, than whether it is US or UK listed.
