Are you serious? This just tries to use a mathematical formula to prove an opinion on what are the parameters that should be considered in valuing a coin.  

Market cap is not a measure of anything real such as liquidity because for example if just 1% of the supply of Dash was sold it would cause the price to drop 99% whereas only 20% for Monero.

Market cap is not even a measure of how much has been invested in the coin. For example, I create 1 million tokens, then execute one transaction to buy 1 token from myself for $100. No one invested $100 million. Duh!

Much of the volume can be fake due to insiders buying from themselves to create pump of the price, which is especially likely (presumably always) in ICO and insta/premine coins (i.e. scams).

Are you seriously admitting you are blind?

1. Selling the ICO/pre/instamine to you.

2. Using control of a significant portion of the coin supply (and thus perhaps 90+% of the exchange volume float) to buy coins from themselves, set fake bid/ask walls, and otherwise manipulate you into buying high and selling back to them low. Repeat & rinse.

3. Having some "governance" scheme wherein some staked nodes (e.g. Dash masternodes and Bitshares' DPOS delegates) pay out some of the created-out-of-thin-air coins for each block and pay them to the owners of these staked nodes, which are disproportionately those who control the coin supply from #2. And even paying some of these coins to the lead developers via "voted on projects" (and remembering who controls the staked nodes and thus who controls the votes).

If you click to the original thread where that table was quoted from, you will see that I was not able to obtain the data for all coins, thus many are missing from the table that would be higher than Blackcoin.