This can make sense If you have free electricity, if I have to decide mining new coins again I would spend lots of time on them trying to figure out if the coin will survive or have what it takes
Exactly. You need to research first if that coin is worth it for your time and electricity. But if you are a guy who likes to take risks and you're just ok with the consequences, positive or negative, this can be a one-time big time hit for you if ever the coin you have chose to mine goes big.
You have a point but it's still very risky because most Proof of work coins are nonsense today, I enjoyed mining coins like electroneum, sumo coin, conceal, and safex token, they are very profitable
Risky as it is that's why it's not for everyone and only to those that understands the risk that it gives.