It is difficult to say, chances are it won't look like it does today. ICO is an amazing achievement, it allows for global crowdfunding for project. The problem is that not all projects will be able to pull of what they are trying to accomplish, it is a start up after all and the risk runs very high. There are of course instances of downright fraud, which brings me to what will drive the future of ICOs, regulation.

The real problem with ICOs is that because they are unregulated fraud can “legally” be committed without repercussion. Additionally, this still constitutes raising funds, and there are numerous regulations for that. The problem of this throny regulatory issue, is that regulators are cautious and unsure as to how to approach the problem. Once that gets sorted out, and it could take years, then ICOs may feel similar to IPOs (the current closest equivalent to large scale fundraising).

So, to answer your question, nobody knows until regulation geta cleared up.