After 2017 max ICO profits, ICO has since then been a high target for scammers but alas ICO will still survive on the long run ,bitorrent and fetch.ai has proven that, many investors are now getting smart and extremely more careful ,its really a good thing ,before we know it the scam rate will get lower and scammers won't make a dime from ICO anymore. I think action speaks more than words,no one wants to lose money to scam projects anymore so they are forced to learn how to spot good projects to invest in. Warning doesn't work but investors losing money does makes them learn.
ICOs are surviving. They have evolved to be more user friendly from STO which promises share in the profit to IEO, hand picked project from experts from an exchange where you can easily invest in any coins you hold. Though the number has declined, the quality is increasing. It's quality that pays in long run.