Most of the ICOs don't even have a MVP. Bad ICOs are like startup projects which has failed to get investment from VC and crowdfunding sites.
These days, even an MVP is not enough. Projects have to deliver and have a post ICO sustainability plan. Some good projects out there with good team, concepts and good funding yet with bad execution end up on same lane with scam ICOs
Of course There are a lot of fraudulent projects among the entire ico company market, but to avoid cheating, I still pay more attention to projects from China or from the USA, because these countries have some control over ico companies.