That's really what happened last year, people threw money blindly at ICOs because at the start of the boom, on tokens listing you wer almost guaranteed with a 5X to 10X return. For quite some time it's not the case anymore
After the crazy last year, investors have become smarter, and more careful with their decisions.
Consequently, it has also become harder for ICOs to reach both softcaps and hardcaps.
Well 2018 brought about different sentiments and unexpected scenarios to cryptocurrecies but at the same time makes it more mature and since its still in existence, pessimists might ought to think twice about it.