It is undeniable that too many altcoins are circulating now and sometimes do not have clear objectives. For some people, they make altcoin just to enrich themselves because it is clearly visible after the project runs and after getting the profit they run
I'm not surprise to see that scenario since for the love of money there are people will take advantage of the fame of cryptocurrency for scamming purposes and we should be careful on new alts since for sure in 100% created only 5% of them is legit and it's so hard to find them.
I see from the positive side if a lot of Altcoin is circulating, there will be healthy competition in the world of Crypto, and I think that is something that should not be feared. If you want to invest, then you need to study the coins so that there is no loss. Don't make mistake with choosing coins that look good but actually they are just a scam.
You will only see the positive side on it if you are a trader and doing a 1 hit run trade on them since for sure you will earn 50% to 100% profit gain since mostly of them when listed get dump and suddenly pump in short time period.