There are still some great ICOs, that are following their roadmap and giving big profits. But the 90 percent of the ICOs at the moment are garbage, that is stealing your money. Investigate the projects, before you invest in them and everything will be great.
Depending on the project. I am sure there are ICO's out there that would yield you with profit and there are ones that will not profit at all and go die in the corner. The difference today is that there are less ICO's that will profit you than back a year ago, a year ago there was a lot of ICO's that would yield you profit and there are few of them today, so you need to select carefully.
However since we are in a stagnant market and waiting for a bull, even if you invest into a new coin that doesn't move much you can wait the bull market and it may go really high one day when bull comes.