Now many ICOs fail to raise funds, not because of fraudsters, but most likely because of the futility of these products, although fraudsters are not small either!
Many cryptocurrency projects, by their nature, are extremely ambitious, they are trying to create a new future for which the world is not yet ready, therefore their ideas are not implemented properly.
So many of them have created non sense idea. As far as i know some of them have been telling us about the non sense idea which the blockchain has no potential to do that, blockchain is not yet even implemented on the economic system. that's the point.