Who has killed ICO? China has forbid ICO-s for chinese companies. There are about 200 countries in the world and China is just one. Participating in ICOs of other contries is still not illegal for chinese people so ETH will live on and ICO-s will still happen. It's a panic drop, life goes on and ETH goes on.
I do not understand how there are so many who do not actually put their thought into acquiring information and just live on with assumptions that have nothing to do with reality... and the go on declaring this as the truth to the rest of the world and things start to live their own lives.
You're right it's a real shocker that people would think that a country with 20 percent of the world's population can have any effect.

Additionally, the fact that other countries are moving towards regulations under security laws that will effectively shut down the majority of ICOs that can never meet the criteria is irrelevant too.

You are definitely right about "there are so many who do not actually put their thought into acquiring information and just live on with assumptions that have nothing to do with reality". In this we completely agree.
I would agree to your ironi about the effect of China if it would have been people who are forbidden to invest and participate in ICO-s. But it is not. It is illegal for the chinese companies to hold ICO-s. It does not mean that these ICO-s will not be held in other countries instead.
Currenty there are countries that are thinking of regulating. There are also these who are not. I do not see any serious steps from the rest of the world to regulate ICO-s and also regulating is not forbiding them. I believe it will take quite some time until we hear of the first country to regulate cryptocurrencies and ICO-s. Also... regulating the ICO-s is not by definition a negative thing. It would also prevent fraud and protect the investor. Of course it will be done in a smart and open minded way.