Claiming there is development in "Monero" is an oxymoron. For the longest time it's just a clone of DuckNote and wasn't pumped until people claimed it was added to Darknet Markets (where it never attained much, if any, volume or actual usage on there).
The anonymity coins are way over-valued until there is another breakthrough to support their price.
People just need a reason to pump and get hype up. Even if a coin offers something simple but new like a built-in photo taker, people will find a reason to pump it. It's sad but true as we now see ICOs selling out in seconds and coins getting false hype.
Complete agree on what you have said, Even there are lots of coin who do exist or pooping out on the market but there are still coins which looks promising which do have features which cant really be found on other altcoin which makes it unique and does really caught attention of people that will potentially pumped out those coins. Some coins i didnt expect to be pumped thats why its really unpredictable to point out altcoin are fast growing.