What weve seen happen over the past year is that crypto-tokens have in some ways replaced Venture Capital for funding the very early stages of a startup enterprise. So they are democratizing access to early stage investment that usually is only open to rich people.
A lot of those projects are going to fail. They might have a good idea, but not great coders; they might have great programmers but not a good business or marketing sense. Some of them are just out-and-out scams or copycats trying to prey off the naive.