Can you prove your wordings or have you any link which says like this? Never spread rumor as many altcoins already proved their value and established and investors first choice. May be some altcoins do scam after their ICO but not all altcoins are scam.
Here is the link to an interview he did yesterday where he clearly states they are all scams or 99.5% of them
https://www.youtube.com/watch?v=gsaSVf5YxfII am not actually going to be disputing the fact that a lot of the altcoins are rubbish and they serve no purpose, but the ones he has mentioned was where he actually spoiled everything. Clearly most of the altcoins have nothing to offer and they are just there occupying the whole space doing nothing except for being pumped and dumped which clearly only enriches the whales and the devs holding a larger portion of the coin.
Bitcoin is no doubt the legacy coin, but the alts with good intentions and solution providing ones will turn out fine at the end. It is a big market, so there is room for everyone.