This is a great summary, I have a few caveats on it though. ICO due diligence is similar to any startup due diligence, except that it has a few added layers to peel, the most important of which are token network effects and what the token represents (token economics). Oh, and , a thesis is only good until the next great startup comes along, which was not aligned with your thesis, but works anyway.
I also think that Dapps empower communities of developers with no formal business structure/organization to compete on an almost level playing field with the giants like Google and Facebook. As users value censorship resistance more and more, I believe we will see Dapp alternatives to all these services, and there are intersting things being done in this space by organizations like blockstack etc.