Nice post. On the other hand since ICOs generally use smart contracts, the rise of ICOs has driven the price of Etherium. Definitely not all ICO projects will succeed, and that is made clear by these companies in their prospectus. There are no promises made except for the dividend schedules and possible tradability of their tokens. I have not invested in IOTA but I did invest in Polybius and Mona.co whose ICOs are still ongoing. I believe in their projects thats why I invested and only the amount for which I will not cry over if they fold.
Yeah, by no means do I say you shouldn't invest in any ico, but you want to be extremely careful doing so.
Yeah, Prudence and due diligence are such hard lessons to learn :)