I feel submission is not true as it is not backed up with detailed facts and figure, Yes we have lots of scam ICO, BUT I feel the 99% stated is enough to discourage investors into the cryptocurrency space and also have a negative impact on real ICO project.
If you really didn't trust the icos then you can forget it and try to divert your money to more establish coin. Since icos are getting crappy and you need to go through a smallest hole just to get into a most prominent project, a regulation will be the answer to stop icos from dying or else crypto space will literally leave a space.