I don't agree that ICOS gonna end in matter of time. I believe there will be lot more regulated icos incoming. So it will be harder to cheat people. There could be less ICOs than right now but it is still going to better.
ICOs are going to continue doing business as usual they are just going to avoid countries with a heavy regulation, and the citizens of those countries will be left with two options, losing access to this lucrative market and have access to only a few icos or as I suspect many are going to find a way around the regulations and will keep investing in those projects anyway.