The sad thing is the time of the little guy making a lot of money in crypto is over. Big venture capital smelt money, the same people who wrote articles in Bloomberg saying Bitcoin is a ponzi and for crime now are throwing millions into these ICOs.
I think of a project wants credibility in the crypto world they have to find a different way to distribute now, maybe a mixture of ICO, mining, airdrops etc.
Otherwise accept we have been co-opted and now profits will go only to big banks.
I don't know if its over as such, but the big % gains were never going to go unnoticed. I think the ICO process will continue to evolve, still early days compared to how many ICO's are going to happen.