This is not surprising, the majority of ico is a fraud. I think you need to spread this information, that would be less people caught in their bait.
I agree with your opinion, but not every ico is frod I think electroneum legit. Electroniam sale 40million$ token yet.
I think that it's a scam to be honest. They might stay alive long enough for people to pump then dump the coin though they will not use that $40 million on the stuff they were talking about.