All alts price is down, but the question is !
will all of this new projects take the lead in the next bull run and leave behind good alts that have been in the market for several years ( for example STRAT , SYS , XEM etc.. ).
The new project takes a long time to become a leader. Altcoin like ethereum takes time to become what it is now and I think that also applies to new projects. The new project will always be there and be a competitor for old coins but it depends on the team and the products