That about sums it up pretty well. Lots of scams out there, of varying degrees. And plenty of ICOs that are not scams, but are just not very likely to ever succeed.
But I think if you look at site and whitepaper, you'll be able to spot the scams pretty quickly, and if you interact with the people running an ICO you should get a good idea of who is qualified to actually see their projects through to success.
this is like betting on stock and shares, but the difference is that there is no regulations and everyone can set up a ICO, not like the companies that have to qualify for a stock market listing.
Were you old enough to witness the Internet booming when it was just launched?
this is like that
crypto currency world, a world with no governors
Freedom at last.
I guess you just need to use your killer skills to see the future and invest wisely and clear minded of what you are riding!