The one way to revive ICO from it's death bed is if it become legalized, it will take time for investors to start jumping right in again but in time things will become better, for now ICO investment is a bad idea and it need to be avoided at all cost
ICO are not encouraged to invest at this time and it is best to stay away early because the risk when choosing to invest will be very high. Currently, many good projects are available in this market so instead of investing in ICO, you should take the time to learn about those projects. By all means, do not trust others when participating in ICO because for me, ICO are rubbish and have no great value in investment.
What you say is true with the fact that is happening now, many are luring the ICO with great results, but what happens is only in vain, I think there are still many other things that we can optimize while waiting for the ICO to become something promising.