Yes, there is such problem. Basicly I can split all ICOs in 3 different groups:
1- blockchain infrastructure projects, where blockchain is a primarly purpose
2- projects, where blockchain is used indirectly
3- ICOs which use blockchain just to collect money.
Lol. As funny as the category sounds and most especially the last category in the list, it is just the honest truth. And the funniest part of it is that the last part is actually the enormous one in this space, but it still amuses me that a lot of investors usually do not always care so much about this and they do not tend to realize that some of these ICOs using the blockchain to just collect money in the name of some utility token, a lot of them are usually not worth it in the long run. However, we just have to admit the fact that it is a growing space and there would always be things like this now until at least investors start making use of their head and as the space keeps getting matured.