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.
I strongly believe you. A project cannot be considered a scam because it failed. Some projects just find it hard reaching their soft cap. Some projects dont get enough investors too even though the project has so much prospects. So, the fact that a project does not turn out as promised does not mean it's bad project. And if a project has disappointed before, it's true that, it could be very painful but people should desist from generalize statements of saying "most" projects are scam. Because in actual fact, they are not