Unfortunately, ICO discredited themselves because of scam, failure to fulfill obligations to bounty hunters, investors. Yes, there were a lot of fairly successful fundraising for the development of the project, but the overall impression is perhaps negative.
I will not agree that the ICO has discredited itself. ICO has discredited investor ignorance. It has exposed how important education and basic knowledge about fundamental analysis are. ICO is a great tool to raise funds, but people who don't understand how it works shouldn't invest in it. Unfortunately, but most investors were blinded by panic buy and bull market. This consequently led to the disaster of the ICO market.