I'm sorry to say that the golden age for ordinary people entering the ICO is over. This value will shift more to venture capital funds for the simple reason that many large vc funds offer significant upside. Neither propaganda nor their support networks, and most of the projects are mindless. Most vc funds are usually 100 percent.
I think that you are right. Today, the majority of projects collect soft caps from various financial funds, who are offered to invest with special more favorable conditions.