in a calculation, investing in an ico project gives us the opportunity to make a big profit. but for now ico projects are high-risk things, some projects fail and that certainly makes us suffer losses. so choose the right ico project and don't lose it.
You are correct mate. Most projects are now becoming useless and coins they produced became shitcoins. If we are going to pour our investments into ICO the risk could be very high nowadays due to what you have said like failed projects and some others became scammy ones. As a bounty hunter I even experience a hard time now with ICO's because the payments are postponed, no value and just a waste of time.
It is obvious that when a project create a utility token for just one app and expect it to succeed , It is difficult unless this app succeed whith a wide range users from all around the world and Now we are seeing that there are at least 3 ICO announecement each day which make most of them unexpectable to suceed