In the last 9 months there has been multitudes of ICOs a few have been great projects but a large percentage of them have not lived up to the billing, rewind to 2 years ago, there were 2 or 3 ICOs a quarter and most of those exist within the top 100 tokens today, even projects that raised minimal sums two years ago are still active projects today, the likes of Stratis raised equivalent of $600K for their ICO. Is it a concern that we now have hundred of ICOs daily looking to raise tens of million and we haven't in the last year seen most of these ICOs become truly commercially adopted.
In my own opinion, if there are so many ico's that is being launched then it only means that the competition in the market is keep on growing which is good for bitcoins growth.