Of course... the current situation is general not just for the ICOs.
There are projects that aren't raising enough fund not because theyre substandard but due to the market condition. I think some of the good projects are little greedy though. They shouldn't expect to raise millions of dollars in this current market. I bet they will beat their target if it is reduced a lot more.
Bull run could raise more project to rise its capability to become successful, and more people will do trust the situation when it become stable by the time it become profitable to all. More possible new upcoming great projects will regain popularity despite of previous massive downfalls of ico's and other altcoins whose not moving up will bounce back to active markets.