That may be why you would do it, but many motivations exist in this world. To reduce all these projects to greed-tunnels is to reduce these many motivations and over-simplify the world.

You are approaching the ICO as though there were some Boolean value as to whether they are "good" or "bad," and have returned "bad" for you. In reality, to throw them all in the "bad" bin is lazy and the opposite of due diligence.

Let me give you some examples of other motivations beyond fast cash that might power an ICO:

1. Ideology

2. Community spirit

I will not attempt to encapsulate what these motivations mean to various actors, but I can tell you that it's not "just about money" for everyone.

However, I will fully concede that most ICOs are scams. Advertising networks are not being overly cautious by restricting adbuys on ICOs. And most people are not equipped to tell the difference between a scam project and a real one.