Well there are still those who believe that they can profit from people's ignorance. However , the industry is becoming matured and its getting harder to get investments with little substance or unrealistic profits.
In my opinion, there are ICOs which aim at money making. They make things look very nice by talking about the returns that could be made by investing in the ICO and many people go for it and invest in these ICO which ultimately results in loss and nothing else.
I believe that we have so many people who want to invest but only in the best project. Not all here are in for the money. Many among them are in for something big than money. People are wise today and this is the reason ICOs are poor.