I think that it can be combined. Of course, there are a lot of scams now, but some ICOs are really perspective, so they are worth to investment, because teams really wants to make PRODUCT, not just an empty token. In addition, you can help the team to make a product that YOU need. For example I like games and I'am intresting in trading cryptocurrecies. I found one project that satisfy both of my passions - is PlayHall project. I inversted, because I want this project LIVE. So it can also be kind of crowdfunding.
Besides, I'm trading on exchanges too.
I wish you would find your way!