I agree with you OP, crypto world has slowed down. ICO mania as we know it is done, people realised $40m for 7 lines of code is nonsense. On the other hand, all these pointless BTC forks where they print money out of thin air are making people loose faith in BTC and crypto in general.
This might be a good thing in a long run; ICOs will have to lower their caps to normal levels, only the good ones are gonna get their chance and ETH could take over BTC in marketcap and officialy become number one cryptocurrency.
They're making money out of thin air but remember that they have value just because people give value to them