It's indeed increasing and getting rubbish and I won't be surprise if investors don't trust it anymore. While icos will never be the same as 2017.
If the cryptocurrency market starts to improve, there will be more and more cryptocurrency projects. According to the current situation, investor enthusiasm is very low, and only a few projects will be successful.
I don't think so like the damage of icos is too wide that it can't save even the market already improve. Likely, potential projects wouldn't be conducting bounties.