A few years ago we could say that the majority of that ICO would be successful, they had great potential and were suggesting quite nice ideas. However, nobody knew that cryptocurrencies will drop down so fast. The current situation is a bit different, we have another market situation right now in which you should stubbornly analyze your investments and think twice before providing your funds to somebody.
This s just the major disadvantage with a decentralized system though its advantages overruns its disadvantages, those few years ago that you mentioned, we all had little understanding of the block chain technology and ever since everyone grabbed the knowledge, majority of people see it as an opportunity to make fortune out of it and not looking at the system function itself and because we all saw it as just an avenue to make money.
This gave birth to many scams taking advantage of the system by duping investors and creating a bad project that will in turn become shitcoins. We just need to start seeing the objective of the block chain technology other than its investment view.