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
Those times are well over since when people started to understand the trick scam ico stated to appear widely
Unfortunately we are here partly because so much money went to useless projects which were just lowering crypto price in the long run but that was to be expected since we are all greedy by nature.