Reasons for the ICO failure are very simple:
1) useless idea
2) useless team
3) government regulations
4) company doesn't follow its own roadmap
5) company doesn't meet its promises
6) token is not a utility but a security
https://www.tradingview.com/ideas/ico/Is having a security token really an excuse to fail? I agree the team has said lot, if not everything to give on the success of their ico. A highly marketed minimum value product will be more successful than none with zero or little marketing in existence