All ICOs are crap to me, if they are good, there's no point of ICO, they can attract people and thus get fund for themselves.
This applies to small business or small app type projects like Cryptokitties, but for larger scale projects, some outside funding is needed, and right now ICOs are the easiest and probably best way to raise those funds right now.
Believe me I see a lot of crap every single day. We pick less than 4% of the projects to highlight, and I have to admit even there sometimes I'm not sure the project will always succeed.
But between the piles of crap there are some real great ideas and great teams trying to make them happen.
Whatever you think of ICOs, this is the future of tech fundraising.