I agree with the fact there are way too many shill coins. Hard to pour through all the data to make proper choices. I assume this is how it is in the beginning of most technological advances. This will all eventually shake out to only the best coins.
It seems like the new coins come in batches--I think when someone comes out with an authentically good idea, they are copycatted by about 10-100 other coins. Sometimes it is more or less specific things. For example, we've gone through a number of "fads": masternode coins, PoS coins, privacy coins, high ROI coins, tiered masternodes. And then there's the "gotta have it" features, like governance, a DEX... or one of the more recent ones, a masternode hosting service.
I have seen that many currencies are created based on an idea, that they intend to be used for something, even though at present they are useless, they are based on the hope of being used. I hallucinate seeing how some collect millions in the ICOs only promising that they will be adopted en masse, only selling an idea that has not yet been started or developed.
I completely agree. I've seen a number of whitepapers touting unachievable goals / milestones. Often they use a bunch of catchphrases to make their ideas seem believable, like "smart algorithms", "AI", and "Deep Learning", without explaining how these technologies actually solve the problem they are addressing. For example, there is a token called Swachhcoin that is claiming that they will solve the world's trash problem. I addressed some of the issues with Swachhcoin in more detail in this post for those of you who are interested:
https://bitcointalk.org/index.php?topic=4708682.msg42745476#msg42745476