there are no investors are willing to invest in an ico without product, having a product is also having the security of an individuals investment. investments are getting exchange in the product of an ico project. without the product, there will be no investors for that project at all.
I agree with you. Projects without products become doubtful and it is unclear what benefits will be gained. Investors will join if a project has a good and useful product. In addition, the product must be developed by a good team.