ICOs aren't going to be as easy to garner attention as they used to be.
I think that we're shifting from unregulated ICOs to regulated ICOs. And the KYC laws surrounding these ICOs are going to pretty strict. In the next 5 years, it should be expected that a lot of big companies come up with their own initial coin offerings as well, just like Telegram is planning on doing.
Overall, expect more regulations in the ICO sphere. It's going to be harder and harder for devs to pitch their ideas across, when they have so many competitors.
Your opinion completely coincides with mine. Regulation is a complex process in which it is necessary to find a balance between protecting the interests of participants in the cryptocurrency market and improper control and appropriation of private funds. I very much hope that this balance will be achieved, and the market of cryptocurrency will become safer.