It's not about how good an ICO was, many ICOs raised huge sum which made them look good but they were scam and took investors funds with them. Many ICOs that were bad in terms of funds raised yet continued with their project development and are doing well now. Good or bad ICOs should be judged from project development if a project records good ICO without project development it's bad.
I think investing in any project will be risky if you do not study carefully. Now investor confidence in ICO projects is gone, and it will only make you more frustrated to choose this type of investment. In my opinion, it is advisable to look for IEO projects because these are the projects that will bring short-term profits to investors and before participating should only choose high-liquidity exchanges.
There are only few investors nowadays who risks their money to invest in new projects due to failed and scammed ICO projects in the year of 2018. It is the reason why IEO projects became much better than ICO projects because they are well-developed and you can trust their team members.