Many ALTs are worthless but have million dollar and billion dollar market caps!
You would have to be insane to invest in some of them but people have!
Maybe the market will correct to this fact of life!
That's why alt coins are so called pump-and-dump schemes because most of them are overvalued because pumpers are pouring hard cash with the intention to dump it as soon as they have made a lot of profits. So its right in front of our eyes, but if you still fall for it, then that's where the problem arises. So its really up to us, who should think very hard whether to invest on this shitcoins otherwise you might end up loosing big chunks of money here.