It's a game of musical chairs. We don't need 30 privacy coins. Maybe we just need 4 or 5.
I agree with this.
But the big difference between crypto in 2018 and dot.com shares in 1996 is that crypto is unregulated. That means it is worth it for pump and dump groups to keep thousands of coins alive (the more obscure the better they are able to pump it). Whereas the pumper-dumpers couldn't do that for stocks because that type of activity is illegal.