Although it may seem like more and more ICOs are coming out as cash-grabs with no real product, there are plenty of great ICOs and genuine teams and project that are working on developing something spectacular. At the end of the day, the onus falls on the investor to properly research every project/ICO that they wish to take part in before they go investing in it. With a little bit of research it isn't difficult to make a safe judgement about if the ICO/project is real or not- the success of the project being a different story.