Yeah IOTA is same trap as bitcoin was when it was around 500$ and overvalued scheme according to many people few years ago The beauty of crypto world is the one can't predict what will happen tomorrow nor a year later. Honestly IOTA can be the scheme as the Byteball can be. I don't know anything about Byteball in my work lot of people know about IOTA since IOTA dev will be in the German national TV and there will be also meetup with Microsoft on December 12th. It might be only pump, hype or call it as you want but it might be also most valuable coin in the world.
EDIT: and cryptohunter remember you are not the person who has to be definitely right, no one is so please respect opinions of others even there are lot of people new in cryptoworld