New projects absorb the incoming money flow, which does not benefit the industry, but enriches individuals.
All this created for some cunning rogue?
Some times you wonder the motive of creating these coins , they look promising from inception, they are promising in all ramification. In telegram, Facebook etc, the good gives are there but finally, the growth might not come until the coin dies off or might just get pumped hitting ATH, and that will be all.
It is just unnecessary competition that is making majority of these projects to start releasing their coins because I see no sense in creating a coin that people would not demand for, and if we study the number of cryptocurrency users that we have, we will find that these project are just too much for them.
The real people that should make the project work are still yet aware of cryptocurrency, so what those companies would have just done is to partner with majority of these top coins, most especially bitcoin and Ethereum, and if they had done that now, I am sure that the world would have known about cryptocurrency faster than it is now, because these lots of project would have created an awareness in their own way at one point or another.