Youre right, most of the ICOs now are fake and tend to scam people, thats why the current rate of investors are decreasing. Some of the ICOs may not be a scam but in the end it just fails and be a part of useless tokens.
reality and control and the market is full of unnecessary tokens and these projects can hardly be called fraudulent, but the market ico of the company is very profitable and attracts a large number of scammers it really is.