I think that investors are watching the market so when they come to know that there is a chance to make money they come for investment and ICO are numerous so to identify a number of ICO which is potential and they have a good value in the future.
I don't know, as a person who knows this, I feel that at this time ICO is indeed quite risky to invest. however, this happens because so many projects are scam, besides that some projects also have much cheaper prices when entering the market. of course this can harm investors. but that is my view. on the other hand, I also still support projects that really try to make ICO better.