You said correct but now a days maximum ICOs do scam that's why people have nagative aspect of ICOs. Sometimes they missed real ICOs just for their negative thinking. Any way i also say that we have to change our mind and for select any ICOs must do research their project plan and team then participate.
a lot of negative news that makes a lot of people think negatively.
ICO is not entirely bad and in my opinion he can still improve so before you try it do not think negative first, because it will not necessarily be bad.
a lot of fraud but that does not mean that all fraudulent products still have some goodness and can develop well, if we want to find and research them.