I think you should read the project whitepaper, see the team behind the project, see the project's product. and you can see ico rating for your reference.
I agree with you. One should read the ico whitepaper before investing in a project or joining in a bounty campaign. You have to make analyze their project if it has a potential to succeed or is it too good to be true. And yes, you can also see their ico rating for your peace of mind.