I think many people afraid to invest in the ICO, FUD, SCAM and fail ICO everyday, I have the experience invested the fail ICO before, even the ICO is not successful finally, I still have not received my fund after 6 months, and the team is disappearing now.
With the 6 months frame without any signs that the ICO team is willing to pay those investors and participants then dont expect from them anymore. That is the worst thing if you put your money then there is no return anymore unlike when you only put an effort and only particpate it is not that kind of frustrating.
Indeed this subject is mentioned quite often and in a long time in bitcointalk. Actually most of people had lost their faith for any ICO, and just mentioned it as a big scam, anyway almost people dont believe in it anymore. Because ICO covers a big amount of scammers which makes many people continually got into the loss, even a big loss. its pretty difficult to filter the scammers, in my opinion. Many people used to say that it depends on experience that can avoid scam ICO, but I had met many experienced people who had got into fake project.