There's an increasing amount of ICO's being launched on Ethereum everyday but there's not enough education towards investors into what they are actually investing in/how it relates to Ethereum.

The success of token sales to projects which were otherwise not that useful is probably the result of this, but I don't want to write anything off at this point as it is still quite early. It'll be the years that come that really will test these ICO's and their credibility.

I'm a big supporter of the upcoming Status network ICO, they've implemented a gas limit to stop large/majority holders overwhelming the network without paying gas. I think if a few big, open source, decentralised projects end up achieving great success it'll prove the worth of the network in whole.

I've actually posted a similiar post on my page the centralisation of token holders as a result of these ICOs. Feel free to have a read and let me know what you think as well.

https://steemit.com/ico/@ardy/what-effect-will-ico-s-have-on-ethereum-over-the-next-few-years