Im quite anti-ICO, I dont feel there is a need in a lot of these crypto-projects to raise huge amounts of money ahead of launch to make it happen. For the devs just being aware of it early should be enough for them to profit from it massively, provided its a genuine project.
You also are correct a lot of tokens are being created for no purpose at all.

Someone might say 'If you dont like it, dont invest' and to some extent thats fair and true, but I do feel there is a danger these huge bubbles of money and failed projects are going to be the next Silk Road or Mt. Gox in the outsiders history of crypto. More bad press.