The market will move to different venues. For Facebook, it is a choice between a rock and a hard place. They need ads revenue but do not want to lend the platform for shady ads.
In time, I think the distinction between Wild West projects and legit projects will become more clear. That should help regular advertisement opportunities.
Well said @wekkel. I think the role of the exchanges, taking as example Binance, will change the way we see ICOs. The more official auditors and channels become authorities to clear the path.