I kinda see three categories into which most fit:
Legit projects with excellent teams, sound ideas, solid foundations & strategies to build them out. i.e. Ethereum, Iota, EOS, the majority of ConsenSys’ ventures.
Well-intentioned projects with average or sub-par teams, aiming to ride the hype wave and bring blockchain to some application with a reasonable-sounding concept, though not enough detailed foresight and planning to see their grand hopes through to fruition and long-term success.
Scams, quick-grabs, all-hype, little-to-no-substance.
The majority will fail. In the end, it’ll likely be a good thing as the shit will get squeezed out and bar raised. In the meantime, yeah, there are a lot of ill-informed investors just throwing money in trying to cash in on the trend without understanding the fundamentals.