I agree with you - a recent study showed, that approx. 40% of all ICOs are fake resp. scam. I personally believe, this number is much much higher and not because there are fake people.. but there are a number of other considrations you should take into account when assessing an ICO:
Skills & experience of the team
the business model
tokenomics (whats the real value when buying the token and how is it linked to the business model),
regulatory environment
when counting this in, I guess probably more than 80% of all ICOs are fake or simply not good investments.