how attractive the coin will depend on how much hashrate that you can get if you are having a little hash rate power and you will always get the lose only because what you must be paid will be deficit compared with what will you get from your mining rig.
You are right, but high total hashrates on network do not a good indicator that price is rising. Sometimes, high hashrates conincidences with high price when people move their coins to take profits, and miners join mining more to get profits. However, high hashrates sometimes belong to period when coins hit their bottom ranges, when people panicly selling at bottoms.