ICOs are like a gold rush right now. Basically, the way it goes now is "I want to do this startup" "oh, lets put part of it on the Blockchain" "Let's do ICO crowdsale" "Market it well" Gets few million in ICO "Well we have a good start, we can either keep working on it or cash out and try to sell the startup"

I am not saying all ICOs are like that but more than a handful see that others are making millions by "pitching" their idea and promising next to nothing with good marketing and they try to "replicate" the same gains. I am glad some regulation is coming into place even though against the concept of decentralized computing.