Nice post! I wrote in my earlier post that most cryptocompanies will go bankrupt, similar to dot.coms in the 1990s. Nevertheless, the market cap of the whole cryptospace should continue to exponentially rise even should ICOs run amok, much as dot.coms did in the late 90s leading to the market top in March 2000.
But just because the bubble burst and a huge loss of confidence in the internet set in, that did not spell the end of internet dot.com stocks. Compare how much dot.coms are worth today to how little they were worth even at the height of their bubble in the year 2000. Amazon today has a market value of $461 billion. Other dot.coms joined the fray in later years such as Facebook (mkt cap $500 billion), Netflix $78 billion and Google $675 billion.
I don't think it will actually burst. The money will just shift to some few coins and a lot of the others will simply die.