Man... You cannot invest in an ICO without a product... No way- without a product ICO just has an idea... Everyone has ideas, but you are absolutely unable to make money with a project that fails to introduce AT LEAST the basic alpha version of it's product. So stay well aware of those projects which have nothing. Of course you have to think about absolutely everything concerning the team, advisors, tweeter, pr and marketing campaign, but is still the most important thing on top of the whole ICO project. That's my opinion at the very least.
I totally agree with you on what you wrote. But on the other side, you advertise an ICO in your signature, which still just an idea. Although I suppose you joined to a bounty campaign, but still it contradicts with your opinion.
What I still would like to add, that beside looking for a market fit investment target, people should also consider what help the project provides for the people. I don't say that's an exclusive requirement, but can be a legit plus.
Disclosure: Our ICO is about TE-FOOD, a ready and working food traceability solution used by 6000+ business costumers, and improves food safety in emerging countries.