As what the majority noticed many ICO's projects did scam and sad to say it were make a bad image for all project no matter how good or bad its feature. But, I think not all ICO were scam it just most lunching were scam, so I think it were a challenge into crypto investor to pick which are really profitable.
I agree, not all ICO are scam, there are still legit project that conducts ICO but it is so rare and hard to see because of the market being saturated by half-baked to scam ICO. But if we look and do our research seriously, we can still find this rare ICO that offers promising projects and have a legit team.
That is very very rare like out of 10 ICO hardly 1 ICO you can find genuine and even if they have real team with live projects the coins disctribution and the coin listing and other things will take long time that will make the value of the coins lesser. so it is much better that after the ICO is listed in exchange and if it is worthy then invest in the exchange and do trading or do short term investment and when you see profit just take it. which is a good idea always in trading.