There are a few bad projects and scams around, but you just need to do your homework.
This guy is a joke and a crook. Only talking about this stuff to get back into the limelight. Clearly he is bored / doesn't understand it.
It's not just a few, there are a lot of scams and terrible projects around. But they're usually very obvious to tell apart from the real and good ones. And the ones that aren't completely obvious don't need a lot of research to be debunked either.