My position with Telegram ICO is contrarian. I think it will be massively successful and actually makes sane investment right now.
Telegram is a defacto standard app for any Crypto user and integrating crypto makes total sense. Native crypto integration changes the telegram app into the largest crypto platform.
Too bad they decided to do an ICO, as it would be much better for the ecosystem to integrate Bitcoin or Eth (see status.im). But why do that when you can get a cool couple of B and roll your own.