I don't agree with your opinion. It is meaningless to think about the development of the project if they shut down the operations related to the bear market conditions. Ico prices are not meaning the real value of the token.
ICO price is only a benchmark that is estimated according to current market conditions if we compare ICO prices in 2017 and 2018 there are many projects with very high ICO prices due to good market conditions but now even though ICO tokens have been much lower. but still when entering the market all depends on community tokens and updates on some of the products they develop.