Actually ICOs are very well alive still. Except now they are subject to much more regulation thus not profitable for scammers anymore. I think most people looking to fund their project with an ICO would not go through all the hard work if his/her project was the same kind of ICO scammy crap as in the early ICO days.
I work with ICO projects sometimes and they have it very hard. Which is a good thing. ICO project quality has gone way up and scams have gone down.
That being said, from my own unique experience, 9/10 projects do not have what it takes. And the one that does have what it takes very rarely has a meaningful use case for blockchain and of course, for a cryptocurrency.
Not that I complain if such doomed projects wish to hire me. (never take payment in their own crypto, of course) I help them with marketing and get them the outreach they want. Especially to institutional investors who are interested in Blockchain. I do warn them about not having a good use case but they always think their project is amazing and completely faultless. Some project CEOs have giant egos and do not want to hear the truth that nobody needs their coin or that there is a better non-blockchain alternative.