I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
It's not about the number of coins, but about their quality. There is a law of transition from quantity to quality. Despite numerous cases of fraud among ICO teams and the emergence of many useless tokens, this is still the most effective way to develop cryptocurrency. The market itself will filter out useless coins and tokens and leave only promising and in demand. So let everything go on as usual. A lot of coins and tokens do not exist. They will work mainly in their narrow niches in our diverse activities and improve our quality of life.