With Bitcoin and Eth both having golden run at the moment, ICO will be facing situation of lesser funding! This will eventually lead to dump when tokens hit exchanges! So ICO in not the best buy at the moment.
ICO just like any other form of investment which offline requires a good knowledge of where one is trying to invest.
It is really a very good investment and I have invested in a lot of ICOs before that have really ended up paying me.
One just have to be very smart in the ICO world so as not to be a victim of scammers as there are so many of them and since it is an unregulated environment, you just have to do the job yourself.