That's not right. If a project is young and its coin's market cap is low, then its upside potential is higher than a higher market cap coin.
[...]
That's not what he's saying - he's talking about the value per coin or token irrespective of supply. I've witnessed this first-hand from my interactions too. On the whole people are innumerate, which is remarkable when you think about it - I mean all the calculations that your unconscious has to perform just to achieve the feat of balance, yet throw a simple equation at the conscious and it falls to pieces.