I am also highly skeptical of most ICOs, however if you do some good research you can find very good and promising projects. VR and Augmented Reality was the big thing last year, but they got almost no funding. Because there is no bubble for that industry. For blockchain projects there is a bubble and therefore funding is abundant. This WILL create a few big companies.
Additionally take a look at ICOs like BeeToken, who use the hype around ICOs to get a lot of people involved, promoting their business. In traditional assets, a company looking for funding is in a conflict of interest. They have to please their investors, who want to make money and its customers. You could say, that some companies are just doing enough, to not loose their customers. With ICOs, investors can become customers and investors would be interested to get the company more customers, because this will increase the value of their investment (and thus its price).