Great explanation in a nutshell! All of ICO's are taking advantage of the popularity of cryptocurrencies and quite often (especially in last months) I see ICOs that doesn't make any sense to me (no working product behind it).
I'd stressed: "While they have notable similarities, it’s important to note that unlike an Initial Public Offering (IPO), investing in an ICO won't result in you having an ownership stake of the company you're giving money to."
In my opinion, it's the biggest problem with ICOs that it reminds IPO so it looks credible.