Yes, this is the root cause of the current market decline. The market has recovered its ideal and people no longer blindly buy shit coin. They are beginning to understand whether this project is a good project.
In my opinion, the cryptocurrency market fell not because of altcoins, but because of bitcoin, and more specifically due to the fact that it rose very sharply in price last December to $ 20,000. If the market did not have a hard price dominance of Bitcoin, then the Altcoins would continue to develop and grow in price. Of course, the promising projects of altcoins continue to develop and in the current state of the cryptocurrency market, despite the fact that Bitcoin drove their price to almost zero. Altcoins, and in particular tokens, must prove themselves as their projects develop, and this process sometimes takes many years. Therefore, I believe that there is no reason to say that almost all Altcoins are useless and worth nothing.