I think it is the most important thing. Even if the team is not so famous but a product is good I will more believe this project.
i disagree with your statement about team and product. both of this is important. if the project have a product but the team is not good or not famous i think investor not interested with the project. and it same with team, if the project have a good and solid team but not have a product in their ICO i think this project will not worth it. so both of this is very important