I do not think that 50% of failed ICOs is too much. In any business, percentage of loss-making campaigns is high. If we take the sphere of startups, only one project out of ten survives there. So, it is not so bad in the field of ICO as it is given in media
I think a lot of ICOs are built on hype and as majority dont have a working product either that just leads to people dumping when possible as theres no real adoption without a product and people get impatient for easy profits. But one quality you can have regardless to ensure a successful ico which doesnt fail is by having a product with real use case and can absolutely change the economy and lives of people around the world- much like Tokoin who are helping MSMEs expand business and funding opportunities advancing the growth of 3rd world countries, those types of projects will never fail IMO