They deserve that drop. A lot of them were scams and a lot of them were well intentioned but badly executed. That happens with startups in the same way though: many (most?) funded startups go bust. In ICOs this is just far more public record as you can follow their demise publicly. If startups would do that in the same way, no one would be so surprised or shouting scam as much. A lot of startups I did competitor analysis on or who we talked with for acquisition or merger had nothing to do with blockchain but also got millions on vague promises and never delivered while burning through the millions. Some of them actually being obvious scams (easy to point out which ones if you are in my industry). Why would that be different for blockchain projects? Are there statistics to show fiat vc funded startups failures vs ico failures? Kickstarter etc failures vs ico failures? XXX scams vs ico scams?