Investing in an ICO is definitely a good thing. Remember the question is not about investing in a good or bad ICO. I know I'm a tad bit pedantic but I think its good to always provide clarity. ICO's offer opportunities to the public which would not have been generally available, so it's a good thing.
Just for reference sake conventional practices also do give rise to bad practices. All IPO's are not good, neither are all banks good, actually, that's an understatement.