I agree with you whitepaper is not sufficient to conclude the legitimacy and credibility of the ICO & Whitepaper is the introduction of the project between investors and project. Whitepaper is one step to go through to make final call on whether to invest in ICO or not? Investors must follow other steps too as follows
1) Is the project have working product or is it in the pipeline?
2) Information about team members and whether they have good advisor on the board?
3) Whether ICO have backing from venture capitals or some well know crypto influncer and information about partneship?
4) What problem they are solving & what new technology they are bringing to help the society?

Indian government are neutral on the crypto currency as of now but the recent case with RBI, Indian government will soon come up with some regulation. This will boost the crypto currency to hit mainstream in India. We Indian sees crypto currency as opportunity like other see the upcoming event International blockchain Congress which is to be held in Hyderabad India.Thus event shows there is still craze in India about crypto currency.
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