The new project under ICO will face a difficult challenge because they need to prove that they don't give a fake project back to the public. If that can happen, the ICO can come back, and maybe they can get many investors like before.
Are you talking about regulation to get investor confidence other than that there is no way to identify whether the project is fake or not even if you drill them about the project you cannot get a clue whether the project is legit or not, so unless there is a regulatory body monitoring those you will not get back the investor confidence.
It is a big challenge for every developer who wants to start the new project because they need to change the people's mindset that the project will benefit them.
If a developer is having a viable project that can change the industry then they will always find investors, the problem here is that half assed developers who want to experiment and who do not want to take any consequences are raising the money and that has to stop.