There are a lot of ICOs because they are vying to create a cryptocurency that would compete with bitcoin and ethereum. But sadly, because of its large number, people got confused which to support, hence, only few make it to exchanges, and if haply, they did, only few survive the stiff competition, especially now that most are suffering devaluation. However, there are also ICOs which are intentionally made to scam. They ran away with the investors' money after the ICO. So you should be very wary in choosing which ICO to buy.