As always, there are two sides to this argument.

Please don't misunderstand me. I am someone who always advice others to stay away from the ICOs. I have never ever invested in any of the ICOs and till now I haven't taken part in any of the bounty campaigns to promote them. That said, I have studied in detail about the IEO/ICO market and the bounty campaigns which are taken out to advertise them.

First let me talk about the success rate. As of now, the average success rate of an ICO is around 5%. And that is not much lower than the success rate of an average Wall Street startup. Even in my country (India) we have hundreds of startups every month, and only a few (5% to 10%) becomes successful. But people don't shy away from investing in them. Because the more the risk you take, the greater are the chances of getting good returns.