The market is indeed oversaturated with tons of different coins that may be very confusing for new traders and investors. Nevertheless, try to look at it from the other point of view: everybody can develop their own coin and present it to the public. After that, it is up to the public to decide if this coin is worth it or not - the market will sort it all out. The most potent and reliable coins will survive, the other ones will fade - consider it natural selection of the coins.