As long as ethereum stays alive, ICO's will survive. Its a very huge market filled with potential I would say, but at the same time cunning scams will be all over the place. I read that many new companies will go mainstream with this form of an investment strategy in the near future instead of listing their companies on the share market and all.
it has nothing to do with etherum, because even before ether there has been ICOs and also there are many other platforms to make smart contracts and start an ICO on. and it will eventually die because it is a shady way of making money which attracted a lot of scammers and it will eventually end badly and when people started losing big amounts of money because of getting dumped on they will stop trusting these scams like they stopped trusting premined coins scams.
and i seriously doubt any legit company would ever go near ICO or making anything of their own. it is not exactly a legal and regulated way of doing business you know.