Many coins are below ICO prices due to this recent dip and I think this is the last dip that we will experience and bull run will start soon. At this moment, it's time to accumulate some quality coins, what coins are good to buy?
People are losing faith in ico, because most ico can't make you earn more money, and you take more risks. The best time to invest in ico is last year, and ico's market has become saturated now. This year ico is likely to die.
There's still many people who have faith in ICOs. But you right about the risk of losing money is high.
I don't think all ICOs of this year will die. Some will survive and it's better to buy now while the prices is below ico price. The difficult part is choosing the right coins/tokens to buy.