I had participated many good ICOs and now I don't see much activities. They thought of listing idea on paper and gather funds but when they actually tried to develop, they couldn't. Good Blockchain developers are not easy to find as it is still a new field and they can't develop the login what is required on solidity. And, another reason I felt was the idea was scamming right from the inception.
even good blockchain developers couldnt make the project work because many reasons. why many icos failed because there are too many factor need to be considered and the team of project dont have the capability to make their idea reality because probably lacking in many factor like funding or etc.