What do you expect? where majority of the crowd sale is been done with eth on the ethereum network, so it means when the price is going down, more of these people will be dumping their eth to raise money for their project building. So i am not surprised the price went down that low, eth price went high because ICO investing was booming, but now many people are scared of investing in an ICO, so much no much are buying eth rather much people are selling it.
I have to agree with you on this one, it is high time most of these project should focus on other platforms for their crowd funding. most of them still use ethereum because they can easily copy already existing smart contract code and paste, the moment more of these ICO starts using other platform for their ICO, the better for the crypto space.