Actually, investors are reluctant to invest these ICOs because many of these ICOs are not real but they just tried to present sometime that look good, at the end of the day, they run with investors money. I think investors has drastically reduced interest because nobody want to invset and get scammed.
Again, most investor are looking at some of these existing projects that has the most used cases to invest, there by pulling out from the ones they aready invested. In my opinion, one of the reasons why prices of most coins are falling these day is because, most investors are pulling out from them. Factors such as speed and scalability has prompted these investors to change their mind and move to other projects.