ICO scams are really hurting Ethereum's price and reputation, and it's very high likely that we will never see same volatility of ICO investments (like in 2017) again because of these ICO scammers.
Let's imagine that ICO investing is now over or it's very minimum compared to what it was before. Of course there could be other types of projects on Ethereum blockchain besides ICOs but their effect on ETH:s price would be minimal, and this could mean that ETH would be only used as a store of value like Bitcoin. Could ETH survive this outcome and some day still recover it's price back to 1000 usd?
I agree that when these Icos industry is finished the value of ethereum will not be the same again, but Ethereum is fast and the fee is small, it should not only be as a store of value, but an active payment option for online transactions, I am not against ICO but against these fake Ico that not only harm the industry but the price of Eth as well