The major inventions have already been made. New ICOs are only trying to improve on the existing foundation - which is good because it will keep developers of older projects on their toes.
Competition is always good in any market situation.
Which new ICOs you are talking about? I like to know because it seems like no matter what they do, it's still hard for them to sell their tokens.
The new trend now is IEO, maybe you are referring to this one, am I right?
When it comes to judging the project, it's on the eye of the investors, not because the project did rise its value, it's already considered a good project, that's a bad judgement because we also need to be aware about the hype in the market, what's important here is the long term effect and the continues growth and not the pump and dump scheme only.