It's actually not that risky if you do lots of research. Its risky for the idiots that throw money at anything that is hyped up with lots of advertising.
I agree with you. If you want to invest then you should look for a way that the risky of investment is rare. Investment is really good to do but you should have a knowledge to do it because if you do not you will lose your money. I know nowadays its really hard to know or to identify if the ICO project is worth it and you will trust it. You should do a deeply research for it before you decide what project is worth it to your money.