ICO is just a way to scam money from investors, even if ICO reached hardcap the Dev or CEO behind project will not work hard to make project successful because after all its free money and no guarantee for investors (ultimate excuse), Best example is ICO Chronobank Time https://coinmarketcap.com/currencies/chronobank/  2 years and 5 months old project reached Hardcap with millions of dollars and until now no product at all they developed only a wallet like MEW with lot of bug and investors are holding a token worth a dust from its initial ICO price -96% (token ico price: BTC0.01 / token price now: BTC0.00039)