Every single thing in the world has two sides. And considering the second side would be the same by just knowing about the first side is totally senseless.
There are hundreds of projects coming up every month. Thousands of them every year. None of them ask the investors to believe in them with no reason, nor the investors are blind-folded. If you want to invest your money into a project, it is your responsibility to do your research about them to make sure that you are not investing them into something that doesn't really have any core but is just a structure built with outer beauty. And if you don't do that, you are the only one to be blamed if it turns a scam and runs away with the money.
You can't blame a complete industry if only a few of its projects are not genuine of legit.

P.S: ICO stands for Initial Coin Offering.