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.
yes you're right not all ICOs that fail are ICO scams, there are several ICOs that fail because they don't get enough investors and funds. and not all ICOs are scams that I myself still believe that there are honest ICOs. The last ICO I participated in was the WPP Token project. I think this project is quite successful because it can achieve softcap and hardcap. but unfortunately the price of tokens continues to decline.