Answering the initial question of this thread: yes, ICO is still legit.

It is now even more legit, than was before. Why?

1. There are official recognition of ICO as a crowd-funding approach coming in several countries. It is yet to come in many others, but the process has started and has no reason to stop. ICOs are being recognized in one way or another, and even countries, which banned ICOs before, will most likely allow it, when the guideline and the industry regulations will be up to their standards. That means, that ICOs are getting legitimate.

2. ICOs is now coming through a way more thorough due diligence and review, comparing the the state of 6 months before and even comparing to this February. It is visible, how sky rocketed during the past 3 months the requirements for information disclosure, the team experience, the projections, the quality of smart contracts and IT solutions etc.

3. We can now see less fraud in ICOs, and almost no shitty project has a chance to get funded.

4. Combined gains from ICOs are also in a green area. It is not a money pit.

I can go on with that list, but the main idea doesn't need it: ICO industry is growing up, it matures, it becomes a legit part of the modern economy.