Many have been scam with ICO. I dont think ICO are still Legit. That's my opinion. These days, projects prefer ICO to IEO of they know they are not Legit enough to do IEO
I think something is upside down, now it's not the era of ICO anymore, even IEOs have started to be quiet since DeFi was established, although some people still think that DeFi won't last long, but DeFi is currently in a good trend.