Yes that's true, in fact they were many; healthcare, media, music can also be added to the list and what happened to them was that, majority were a means to enrich the team that is to say, they were created without any hope of contributing to the world thus exit scam here and there. Only a very few projects are still in existence because the team are after long term development. Same thing that happened in ICO is gradually creeping into the IEO, so at all times, carry out your research on every project.