Yes there are a lot of projects, but finding the good ones is just as difficult as it has always been. I reject about 19 projects for everyone I accept. I think you need to keep in mind that these are start ups and that even in the real world the vast majority of start ups end in failure. You also need to know that true success can take years and is not always known when the coin starts trading on the exchange which for too many investors is about as far ahead as they are willing to look.