I think it is only the matter of time when bounties are going to recover. If you look at the market between 2016 and 2017, it was almost always raising. There was no such a dramatical fall and people have earned money.
Yes, it seems that the situation with ICO will not improve significantly yet. In order for it to change for the better, it is necessary to solve the problem of fraud in ICO projects, and this problem will not be solved without state regulation. Well, in order to introduce state regulation of ICO activities, some more time is needed.