If you are an investor, you should evaluate the project's value proposition, the development stage, the team behind it and if it makes sense to you, maybe it is a good way to go.
You shouldn't expect it to be a magic formula of high profits and throw some ETH or BTC in just to try to sell it for way more as soon as the token hits an ICO.
Since it is more risky to participate in the ICO than to wait for some progress in the project and buy it when it is more solid, the gains are usually higher as well, the same of every investment. Higher risks, higher profit. But you can fall for scams or put money in a dead end project that won't see the light of day.
So, answering the question: