ICO's are LEGIT. BUT there are some evil people who would like to raise money by putting up fake ICO. Unfortunately a lot still fall for it. too bad.
It's a good thing Menlo.one, an ICO marketplace is launching soon to help investors filter good projects faster and actually be able to invest with less fear of being scammed. I've read their white paper on
https://www.menlo.one/ and did some checking on the team working behind this project and they seem legit without any links to previous scam projects..