Times have changed , investors are now more careful on what to invest into. Unlike before that people just invest into any project they see and wait for profit. There are still good project, but you have to he 100% real and ready before you can start up any new project.
This is all due to the large number of ICO scams that carry the majority of investors' money, if everyone does not try to cheat investors, certainly the event will not be like now
Everyone became greedy, I guess. They see ICOs as a great way to get money the easiest way so I really felt bad for investors who lose their money because they got scammed in the end.
I haven't tried investing in ICOs before and even now but I was once a victim of a post-ICO scam because of a bounty campaign. I thought I'd be able to exchange the token I got but after a few days, the developer run away so the token which was on the exchanges already that time with a value went down to -0.