Entirely ICO is not a scam but they got no value after that hype ends now the same going with Defi as well and I do expect the same thing will happen with these projects.Potential of these projects are only short term gains and for aure most of them will become scam as well.
Defi is a huge attraction of the market. Currently many people are interested in investing in Defi. Because investing in DeFI projects is making a huge profit. However, many people are suffering by investing in blockchain for some time. But they invested in the wrong project. When people are more inclined towards investment sites. But those started in 2017. But it was good. Since 2017, some fake projects have started. In 2017 scamming was more. The amount was further increased. So I think everyone is having a good time at Defi or blockchain.