Yes, I do agree that there have been some scams in past years, but that raises a question on people's ethics. On the other hand, users need to cross-verify the credibility of exchanges before purchasing or depositing their cryptocurrencies.

I, myself being an active trader on a couple of exchanges, can understand that it's hard to trust exchanges. I have seen different exchanges offering different lucrative features to engage more users, and that's the part that keep them going in this exchange business. So I don't think there is any sort of saturation around these exchanges.

I try to check the demo of any exchange, if available, and understand the server infrastructure and security measures they have in place. If all goes well, it's a good deal.