Perhaps this is the idea of ICO, but in fact we see that 90% of projects simply collect money. I agree that there are exceptions, but they are drowning in a sea of bad projects.
Because the number of fake projects is more than the number of the honest one, the negative impact being resulted will certainly affect all projects. Moreover, the crypto world is experiencing lethargy lately and it can be a trigger why some investors are no longer interested in investing on ICO. I think the hype of ICO has been ended and let's wait, what is the next hype will be appear later on.