Yes. Just like I mostly think if we can find a cryptocurrency project with a different idea and product assigned to use the coin in exchange of the products or even to be used in a different services. No, all are just meant for extracting found and other coins or maybe they're not yet complete yet who knows.
Reading through the comments here, it shows that majority of us knows these truth about them that they are just after the money, and yet we keep wasting out funds by investing in them, how would the succeed in extracting funds from us if we dont open our heart and funds to them.
Personally for me, I have learnt to only invest in products with UTILITY coins from a very reputable team, otherwise, if I dont see any, then I keep investing in already existing ones, at least I will be able to check reviews of the existing ones and how far they have performed before putting my money in them for a long term investment, these projects that fails are the ones using that tactic of pushing their failures on bounty hunters and investors dumping them.