If you take two tokens from two different projects and compare them, you can hardly find their differences. In addition, the absence of any legal regulations for ICOs also makes fraud thrive.
That is what is expected "regulation" If the ICO is regulated by each country, surely it will greatly affect the ICO market. And most likely the ICO market will return. But unfortunately, none of that has ever been done until now. So that ICO is a bad market for investment.