your logic is simple and clear but completely wrong. you are just guessing about ICO's. ICO's maybe wake up again when market turning all green. nobody can now.
even ICO's are really dead i don't believe ethereum's power is just about ICO's. you should search about who is Vitalik Buterin and what kind of genius he is. maybe 10 years later he is gonna be Elon Musk in Crypto world.