I think there are different types of projects. For example, there are certain projects which are absolutely useless and they look like a scam/useless from the very beginning these generally go much below their ICO/IEO price and would never pick up. A certain and most popular set of projects are those whose owners are very enthusiastic at the time of the beginning of the whole process but as time progresses they tend to lose interest in the project and therefore the project dies or they convert the whole project into something which is in trend like the DEFI wave that came recently. But out of all these projects, there is one project which gets some steam and they do one or two trials here and there and tadaa the price skyrockets and then the developing team generally begins the speculation play and just forgets about the project. This is the reason there hasn't been even 1 project which has been 100% successful in what it said in its whitepaper.