Many people have become greedy lately. That's why ICO price often don't make sense. I see some ICO projects are seeking only quick profit. I am glad that Mr Butterin said that, it's good call for us.
You are spot on. The ICOs are ruining the reputation of the crypto-currency. The governments are introducing a lot of new measures to prevent investors getting cheated in the ICOs, but we should also do something about it. ICOs with dubious plans should not be allowed to get listed.