They are useless if the team doesn't make any progress after receiving funds from ICO. So what is the point if the coin offering is a success if the next thing to do is nothing. That is why most altcoins became shitcoins. Sometimes ICOs are deceiving, they look legit but once the ICO ends it becomes a scam one that could lead also to shitcoins. It is really hard finding an ICO that has integrity. 2018 is the worst and maybe 2019 could surpass it since there are still many shit projects that could still fool many people.