Most of the ico's today are not continuing the project after the sale ends and most of the consumers who invest on their coin are not getting any profit. Actually there's nothing really free in this world not even in cryptocurrencies or in an ico because we all do have to exert an effort and work hard for it in order to get a reward or obtain something valuable as a return.
I do not think all coins are dying , maybe those poorly manage coins will slowly die but for altcoins that are manage properly are rising to the top index of the digital market ,they are gaining popularity as of bitcoin which is on top of all altcoins.