I will start investing in ICOs if
1) they can afford funds on there own to run there projects and stop relying on softcaps and hardcaps(investors money) which is why its the perfect haven for scammers ,you want to create a project that is very promising and you don't have the funds just move on ,no matter how good the project is if the hardcap is not achieved its goodbye
2)the waiting game is annoying ,if they follow my 1st idea there won't be anything holding them back especially bounty rewards ,nowadays you have to wait months for ICO to end and keep praying it become successful so as to get your rewards and the term successful from any ICO is from 'achievement of hardcaps ' this days not what the project is here to deliver ,there are still good projects out there that never launch ICO and they are doing better
Your explanation in no.2 was not a character of an individual investor, it is actually a behavior of a bounty hunter actually.
The true attitude of an investors first was they are risk taker, in short they are willing to loss their capital/money if they want to
buy token/coins in every ico. In fact they're not actually looking unto it instead they are looking on the good side result of the ico project
which they are going to get in to.