Hodl strategy doesn't always work with every coin. We should only hold good coins that are worth holding like BTC, ETH. Holding shitcoins that are worthless will lead us to heavy losses.
I agree with your opinion, not all coins are qualified for long term holding and there are only few of them that will surely you good return after holding it. Many low quality coins will become zero value in the future abd they are probably candidates for delisting from crypto exchanges. Before investing, it is proper to make a research first on a coin you are planning to buy. Hodl is good for any coin that has the potential to go up or rise up beyond what is expected.