There are too many ICOs happening right now, it is very difficult to research them all, ain't nobody got time for that. I think it's better to stay away, many are scam or bad business and they'll fail.
No only that even if the ico is not a scam the chances it gives you profits is going down since most people right now are not concentrating in icos they are looking at more established coins and the ban that China imposed on icos a few months ago is affecting the market as well.
The market is expanding, but this expansion is not only due to bitcoin and ethereum. ICOs are playing an important role in the market expansion. They collect millions of dollars and this is good for a bigger environment.