The ICO participants are the ones contributing to this, because they just throw their money into any hype around.   I have seen some ICOs without any product, not even proof of concept raising so much money than required because of the hype,  i have also seen good project with proof of concept and alpha version of product not raising enough money because it was not hyped. If people can take time to research about a project value proposition,  use cases,  product development,  the team behind the project and other vital variables before putting money in,  we will be able to reduce the number of shit ICOs that become successful.