Yes, I think the fact that a project reaches the hard cap does not necessarily mean that project will be successful. I think the important thing is how the team members of that project used the money which they collected at ICO. If the team members use that money to develop the project, then the project is successful.
This project will definitely succeed in carrying out its actual business but the problem is that the price of the tokens they stretch when selling ICOs are many that fail to maintain prices when entering the market, so hardcap cannot be a reference that these tokens will get a good price when they enter the market.