It is sad that you call ICOs like that. IMO you are being unfair against most ICOs.
for now it's not good to invest because the crypto market is downtrend. but believe me ICO will return like 2017 which is very popular with many investors
The logic suggests us to re-think about the old day's strategy called "buy low, sell high" and I have a good argument for this. First of all, there are trading tools like leverage which lets us open direct short positions on the exchanges like Bitmex,Gotrade etc.
We should also state that these trading tools can not be used by everyone, and that there is a huge risk. Leverage trade is for those who have spent more time in trade.