This is a good initiative. With the help of the community we can get rid of the scam ICO. Maybe, there can also be a list for possible good projects because some of the good projects are not getting support. Their thread is getting out ranked by scammers.
Sometimes investors doesn't tend to look at any list so I see it will not be effective.
We cannot save the lazy investors from their foolishness.
There are also cases that an ICO will show their great innovations at first but after investors already throw away their money, then that is just the time that a scam ICO will show their true colors so in the end, still busted.
That cannot be helped. But at least we can prevent some obvious scammers from scamming investors by exposing them early.