True! The presence of worthless altcoins are actually damaging the reputation and Crypto and also dividing the investment which should have been flown to the good altcoins. Altcoins are required but not at the present scale. Nowadays we have more than 700 altcoins and 99% of them are worthless.

The crypto currency market is becoming like ponzi scheme where people are flooding the market with ICO offer and running away with the money leaving the coin unattended. This is indeed bad. We all have to discourage this attitude of introducing new cryptos without any long term plan.