~
Maybe now people don't have any choice beside join ICOs because market still not good to do trade. But as a result, developers not think about market or maybe develope their project after listed on market anymore. After get big money, they will develop their project as they want.
you say "now" as if it is a new thing!
this has been going on for as long as altcoin market existed. there are people who aim to make money from thin air, to do that they have to put the least amount of effort into creating a useless coin and then sell it to the gullible newbies who pay for anything. you saw it in 2017 and partly 2018 in the form of ICOs but that is only one form of this type of scam. before it was something else and soon there will be a new form.
and as long as people idiotically give their money to them, they will continue coming back.