I personally do not believe this statistics that 99% of ICOs are scam, because some ICOs fail do not mean they are all scam. I usually tell people that starting an ICO is like starting a new business, it might succeed immediately, it might fail presently but have a great future and it might fail totally beyond redemption. So because a project is failing to perform presently or fail totally do not mean it is a scam. Don't get me wrong here, I never said there are no scam projects but the rate is not as high as alleged. Judging a project based on its first few years is wrong, give it time to realize its potentials.
If ICO failed, then this is due to either direct fraud or the incompetence of developers. Many people do not know how to implement their idea, where to get money for it, and then the thought comes to mind, and let's go to the blockchain, there you can easily take money. They dont understand anything about this, but they came here with their project and conduct ICO, promise that they will make their project better. And how will they do it if they dont understand anything in this market? That is why they are called cheaters or scammers.