Only way way to get profits from ICO is to create new one or join in very early stage. Serious ICOs are super rare. For long term I would definetly invest on BTC, for ICOs maybe worth to invest in few with hope to get return and one unicorn but I think actually it is hard to find this kind.
I think for the time being investing in new coins is currently not suitable, unless you have confidence in the project and also the courage to invest in it. I refer more to buy BTC and use it for long-term investment because it is more profitable in my opinion