An important topic to discuss.
I come from economics and computational social science background. Recently, there has been increasing interest in characterizing diversity (social, economic, ideas, racial, ...) and its correlation with success metrics such as innovation or socioeconomic status. For example, look at
this paper. . There has been growing evidence that creative people are found in loose networks of diverse backgrounds. Businesses are trying to create dissensus and diversity to gain the competitive edge in the rapidly changing economy.
"It is important to diversify by considering more than one strategy at a time, because as our environment changes, the old strategies stop working and new strategies take the lead. Therefore, it’s not the strategies that have been most successful that you want to follow; it’s the strategies that will be most successful that you have to find."
In economics, people think of diversity as how uniform the resources are distributed among possible options. Monopoly is the extreme opposite of diversity since it means all resources and attention are spent on a single option. There has been numerous studies showing that monopoly is useful for stability (only in short-term), but kills innovation.
In this context, I think cryptocurrencies are not diverse at all. The whole community has gathered around a single currency (i.e. bitcoin). All attention and resources are spent non-uniformly on a single idea (bitcoin). I think this might in fact be bad for cryptocurrencies since cryptocurrency as a concept is in its infancy and to get mass momentum it should adopt as many new idea as possible to evolve. To gain more popular support, the cryptocurrency community must be as diverse as possible so that it can find allies from all spectrums of economic policy. This means more altcoins, and more uniform distribution of attention among cryptocurrencies. Now I agree that there are many crappy altcoins out there or there are people who are abusing the idea of cryptos to make money. But I believe the market will collectively identify and purge these toxic coins. But it is crucial to leave the comfort zone, be open to new ideas and invest in new legit altcoins. In the long-term the ideas of all altcoins combined together (if given enough oppurtunity) will contribute to making the whole crypto ecosystem more popular.
If reviving old coins, instead of creating new ones, has a better chance of gaining attention thus diversifying ideas in the whole crypto community, then I am all for it.