Why is she trying to get in every profitable industry? Is this so called singer competent in crypto currency, blockchain? I don't think so. I would have never invested in this ICO. There are lots of trustworthy projects.
I guess you are right but not completely.
Why does she have to be competent in crypto currency? Do you really think that all the founders of crypto projects run their projects themselves?
There are usually devs and managers teams for handling and running such projects.
And she is just advertising it with the best thing she has (I mean her popularity).