Essentially. All of these coins have no real world use and everyone knows it, they just think they will the ones profiting on other idiots who buy it at the end.
Almost no token sales are done legally. Ethereum's token sale wouldn't be legal if it was done today but Ethereum is so large that regulators effectively grandfathered it under the "sufficiently decentralized" doctrine.
That is a nonsensical statement. ICOs are a way to raise money. There is nothing that inherently deceitful about them. I want to be able to invest into early-stage companies and an ICO is a way.