For me, ICO is not good if:
-If the people behind an ICO don’t put their reputation on the line, they are more likely to feel safe while pulling a scam.
-If all keys to the contributors’ donations are concentrated in the hands of the owners of a project, nothing is stopping them from running away with the money.
-Unrealistic/unclear goals. When a project doesn’t have a clear-cut, realistic roadmap, it means that the people behind it don’t know what they’re doing, at best. At worst, they don’t really care because they aren’t actually going to do anything.
-Lack of transparency. Today, showing work-in-progress stages of your project to the audience is considered an industry standard in crypto. If the developers don’t release code snippets, demo/beta versions of their product, behind the scenes videos or other kinds of reports on their progress, it is possible that they don’t have anything to show at all.