Yes, you are right, that is the reason why many ICO fail while other became scam project. Each ICO has its own unique project proposal that offers their possible role in the advancement of technology but identifying which is good and which has not become a great challenge to many investors.  It also brings doubt and confusion to investors whether ICO is a good choice to invest with.  

This concern must be properly addressed so sprouting of new ICO every day will be reduced and those ICO with great potential to succeed will be allowed to launch.  It will be only possible to happen if there will be rule and quality control to be passed prior to launching and introducing in the market.