I hit some good ICOs -> WAN, DRGN, CND, BNTY made me most of my money. However, many projects feel very rushed nowadays.
The bigger issue, is the ongoing regulation of ICOS. Regular unaccredited investors can no longer participate. Not only can ICO's get all their money from "strategic" investors, they dont have to deal with KYC's and different legislation. It's unfortunate, but that is the direction we are headed. Retail investors are forced to buy at massive premiums on secondary exchanges for any decent new token/coin.
Regulation has introduced professional middlemen into cryptos.