The more the SEC cracks down on unregistered securities posing as ICOs ,the more the atmosphere in crypto will change .IMO , ICOs will not die but they will definitely have to take a new form and STOs will play a big role. I believe this is a gods thing for the industry.
I would rather prefer the SEC to crack down on any illegal ICO, not just in US, but think of a mechanism of ensuring it is a global thing. When you hear of cryptocurrency scam, it is mainly from illegal or unregistered ICOs.