Would you say its more than even say 50 max? There are over 2k cryptos. Most are worth nothing. But how many are actually worth something?
Majority of existing coins are just duplicate of existing coins and some of this just pump and dump coin I think only 200 coins or roughly 10% have actual value and usage, but many new coins are coming in because some coins that used to have value suddenly people are dumping for another one with same features.