It’s not that simple though really. I mean 80% of ICOs seem to have been scams, and only 8% made it to the exchanges (see 80% of ICOs are Scams, Only 8% Reach an Exchange).

The referenced link is a bit oldish now, but out of all the people that backed that 80%, I’m pretty sure that, dreamers and gullible aside, plenty of people followed the due diligence mantra. That may lower the odds of getting scammed a couple of percentage points, but there is no clear set of infallible steps to take that guarantee having hit head on with the right project. It seemed more like a funfair raffle than anything, where people should not have invested (here comes the other mantra) more than they can afford to lose.