i believe yes, you will see great project but also a bad one in the crowd, you just need to be careful, although there obvious but hard to spot.
you should be aware that a lot of startup are carrying almost the same idea and create some sort of token that unrelated to blockchain.
there is no clear formula for investing,the only way to avoid losses is to make due diligence by spending a lot of time studying and gathering more information on the project before making a decision.