The better ICM projects have real revenue-generating businesses/companies. Sector-wide, from a tokenomics perspective, there is a focus on sustainability, deflation, and a token flywheel. Much of the generated revenue comes from non-crypto sources (Web2 clients/users; business model with PMF) to power these flywheels. Instead of extracting value out of the eco, outside capital is incentivized to come in. As capital flows in, tokens are closer to a supply shock through buy/burn mechanics. This way of capturing value acts as a direct capital/value injection into on-chain markets. This isn't happening everywhere. There is an ecosystem filled with tokens that have this kind of supply shock potential/setup. All you have to do is Believe in something.