In a bubble the market is out of sync with real values and people will pay "over the real market" prices because of greed with the only hope to make a quick buck. Tulips contracts were never worth what people paid for it, once the hype came down all the speculators were ruined. The same will happen here.

ICOs bubble will pop and the market will mature like internet did. In the mean time a lot of people will be ruined.