This is not surprising at all since many of the projects are just made up to siphoned off money from the investing public. However, it should be noted that outside of the ICO platform many businesses are also failing with only a few will eventually survive within two years of operation. That can be the reason why I said I am not surprised at all.
I am hoping that the ICO market will really mature and will only support projects which have assessed value or much better only projects which are already operating profitably and will just be expanding. I know that many ICOs are just crap and just for the money because I am into bounty promotions too.
