A lot of ICO coins are pure speculation with no working product (hence the ICO to fund). In these bearish times I think people realise the values were way off for these projects and the day may never come.

I'll agree on Spectrecoin - full disclosure I have invested a small amount. It's high risk but very real chance of high reward. It's current rank is criminal.

For me the rationale for privacy coins is clear. The 'need' has not been realised yet, but will. Then it comes down to what is the most private (with acceptable transaction fees) and speed to a certain extent.

Look into the detail of most privacy coins and you'll see their weakest link is not adequately protecting the sender, Spectrecoin does this better than any privacy coin I'm aware of.