I think when reviewing an ICO, you need to keep an open mind as if you were investing in a company in the stock market...it includes risk. As there aren't quarterly reports telling you how the company is doing, you'll need to make sure the Whitepaper is complete and succinct, the idea has a feasible path to implementation, and a team with background knowledge and experience are running it. 

I mean...You wouldn't trust a guy who's spent his life as a baseball player to represent you in a court of law.  Similarly, I wouldn't trust a team that doesn't have experience in the crypto field.