I think you forgot something like ICO's are like some kind of a crypto related business nowadays. People behind those fancy projects makes a lot of money in just months without delivering the promises they have posted everywhere just to lure and get the attention of the people with their sweetest lies. For me what was happening is that people behind thiese projects knows the best strategy or method to make millions of dollars in a short period of time. ICO's are like products in China wherein they were mass produced and rates like quantity over quality.