This is just like saying you can buy a packaged food just because the package is of a color you love. While the package is fine you still have to check what the food was made from. If it's halal or if it is expired.

Likewise you consider an ICO in totality. You consider the uniqueness of the idea or technology and how they intend to achieve their goals.

Ask yourself of they can truly achieve what they set forth to.
Do they have competition? If yes how can they survive.
How good is their marketing strategy etc