ICO causes more and more distrust - thanks to the scammers. At this point, companies that produce and sell tokens are more focused on the product. The product is being developed and improved. And all before the token sale.
The fact is: those companies that enter the token market with a readymade product are more trustworthy. Now, few people are interested in a company that launches ICO just to make a name and earn a lot of money.
ICO is a serious campaign. It requires great resources and professionalism.
There are many companies on this path. Recently, Pavel Durov announced the creation of a light wallet and the release of the Gram token on the Telegram platform. Here is another example - KickCity, a company that has existed for two years. KickCity is engaged in the development of the event industry and issues a KCY token for further expansion of the company.
Correct, many ICOs are just made to gain a big profit. There are also a great number of ICOs which are considerably useless and usually a duplicate of another platform. But ICOs will never vanish as many people are still being hooked by these ICO, and yes because they generate a big profit. They help a lot in some ways especially in the expansion of the usage of the blockchain technology in many fields in the physical world. Some purpose helps but usually, it is just a waste.