besides what you have mentioned in my opinion we also do not need to make a decision too quickly.
It is better to observe the ICO's development first, if we think that the ICO is indeed feasible, then we can decide to invest in the ICO because at the moment there are many ICOs that stop in the middle of the road so we have to wait at least half the ICO period.
Two aspects should observe ICOs are: the developments of projects that run ICOs, as you mentioned; and the movements of prices on exchanges after ICOs ended. If we can see that developments are good or at least acceptable, and price movements show signals of bottom out, we can buy at low price and wait for chances to take profits when development come to product releases.