Several factors are responsible for the failure of some ICOs.

1. There are some ICOs that are planned with failure in view. These are the ones we commonly call scam.
2. Some are related to what your referred article explained. Lack of professional marketing and packaging.
3. Content. Some ICOs have a shallow idea of what the project want to achive or address.

Not to overlook is the fact that the investing public is increasingly becoing aware of the needs or lack of it, of the various ICOs and are taking wise investing decisions.