Investors have lost faith in the ICO, which is why we see IEO at the moment. It is much better and safer than an ICO, I think you should not waste your time with an ICO because no project will really succeed in this form.
There are a few successful ICO projects in this market, but it's too little to say that ICOs are still alive and well. In the past few months I have seen many ICOs operating but only a few good projects have been successful, so don't be too adventurous with ICOs. The best is still the IEO option to join