ICO is like a dot com bubble, but Bitcoin is like Internet itself and we all know that Internet never went down.
Don't you mean Bitcoin is the Geocities of ICO,
and Blockchain is the internet itself (TCP/IP)
No. From a technical point, sure, that makes more sense of course, since Bitcoin is an application of the blockchain technology. But we are comparing it on an economical level and there it is like Internet itself.
Internet isn't just technology, it is a network as well, you could theoretically split Internet in two. It wasn't just that technology survived the dot com bubble, it is the network itself that survived as well. No one created another Internet after the dot com bubble, there was no need. Same for Bitcoin, it is just that on a technical point of view these things are split in Bitcoin, technology and the network, but the same economical rules apply.
Hope nobody did this.