Just take a look at any altcoin launch calendar. Every day we have several brand new altcoins launched. The majority of them has nothing new at all except for new logo.
Why this is happen? What is the purpose of their developers? There is no chance to premine nowadays, so how investors / devs are planning to make their money?
And what will happen with all of these when some time will pass? It reminds me adjacent space full of flying garbage.