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When you're in crypto for over a year you start to think if maybe the majority of altcoins are just a blatant scam, even those in top 50. I've seen projects with an amazing whitepaper (not just one), full team profile, excellent website yet they never deliver on their promises. The price reaches ATH and after that it just keeps drowning and those that don't sell at the top get burned and lose the majority of their investment. "Regular" ICO's are no different from lending ICO's (Bitconnect, Regal Coin, DavorCoin), the only difference is that they may trick more people into investing and the price won't drop immediately. Just ask yourself how many of last year's ICO's are still around and if so did they deliver their product? Wouldn't surprise me to see Omisego going to zero one day.
You are right now that is very nice analysis of altcoin markets mostly of them have just complicated whitepaper and few well known people in team portfolio with attractive website. I also agreed with you there is much hard for any project to survive in long time without having any useful product.
