Yes. All alt coin beside Ripple should be considered outright fraud (pre-mining, instant mining without letting anyone know).
There are plenty of completely legit alts but you're right, overall their track record is wretched. The ones that make the most noise are usually the crooked ones.
I guess you are misunderstood this altcoin. The one that make most noise usually crooked but its not for altcoin. See the volume of some altcoin and you know that is not crooked. Dont judge the books by its cover, you can't predict anything is this altcoin is going to the moon or not