There's still a lot of failed project but i am agree with you that people must stop investing into a project without mvp. There's a lot of project from last year that haven't release anything till now and they collected a lot of money back then so there's a lot of people that suffer because of this. If people stop giving money so easily then the icos will raise their standard and the amount of failed project will be reduced.
I still see lots of people throwing money on useless ICO's. They should atleast realize that no big exchanges are listing any coins from last few months. What is the point of investing, if they never even get listed, and goes to trade on graveyards such as idex or forkdelta.