Although I agree with you about the old market, I think today's market is at least better with plenty of regulations and trusted sites so scammers less likely cause rampant like before. At least, IEO is much better than ICO.
and also we have more experience from past accident. cryptocurrency now accepted in several countries and its good for market capitalization if investors have no more uncourage about banning. while regulation already done we have more certainity about legal standing for crypto market.