The best use ever found for ICO is to finance the lifestyle and travelling of people who otherwise would be living with the mom on a caravan. Anyone who has been around for a few years in crypto understands perfectly what I am saying. Teams that are fake, team that do not stand any chance of delivering the promises, promises that no team ever could deliver, exit scams. The profit stats will not tell you of the many millions lost to fraud in telegram or the annoying reality of the whitepapers versus the reality of building a crypto. So many famous ones that I cannot even start to number them.
I understand what you are saying here. So many got burned from those ICO projects. I even had invested in one of them, and lost about 0.3ETH at that time. The value was not that much before but with today's price of eth, I can already buy a lot of my basic needs. I don't know why the OP posted about ICO, but this has been dying already. Very few people are now interested in ICOs, unless the project has backing of big companies.