I think ICOs are essentially dead right now. Horrible capital structures make tokens not worth it. It is very rare to see an ICO perform well. Right now the HedgeTrade token is the only one that I have seen 500% return on.
It is correct to say that they are temporarily dead, because as soon as the market shows its strength and prices fly up, the ICO will again begin to grow by leaps and bounds, but it is not worth investing yet