Not strictly end, I would say. At least not until solid blockchain infrastructure and projects are build. Think about blockchain Facebook, blockchain PayPal, blockchain Google Drive parallels, that sort of projects. Probably ICOs will evolve in some way. In fact, they are already evolving. Check out DAICOs!
Indeed, there is still too many aspects to be explored with blockchain related to ICO projects, so there is a lot of time for them still, I can tell that their end could happen but it is not even near.