Yes it's that there are lots of ICO appearing almost everyday. Most of them are not realistic of their ideas and concept. But, there are some which are feasible and have higher chances of getting into operations. If you are an investor be sure to study them before investing.
We all have figured it up. If the project is something seem very ambitious like developing train from one city to another, it might obviously be scam. Not judging all but you have to check the backgrounds of the team members and advisors, if it doesn't add up then its something that you have to avoid. Most of the ICOs these days however are not very friendly. There's KYC and they don't distribute the tokens after a week, sometimes it took months which is not good at all.