Regulasi aren't a golden bullet against scammers. As all those things become more obvious to the general public, scammers evolve to mimic decent projects with almost impeccable efficiency. Still, the most reasonable rule of investment isn't about ICOs or IPOs, it's just about your common sense. I mean no matter what, never spend more money than you can afford to lose.
So you are justifying money to lose on the scam projects when its affordable for you to lose?
Scam projects can be avoided when we know what the project is actually about too but there is no perfect or assured way to tell a project is scammy or legit until it happened.