(CNBC) One of the biggest problems with the traditional IPO process (and there are several) is that it’s impossible to say whether a deal is a success or a failure. Snowflake, the cloud-based data management company that’s 2020?s biggest IPO, jumped 112% in its debut Wednesday. For investors who received allocation at the $120-per-share offering price (which, by the way, was 41% higher than the range