You can say so about the majority of coins on tokens that are already live on the market and you will be right. People have blindly invested in poor projects back in 2017, now you must have a working product to collect a soft cap and in my opinion it is a good progress.
Thats really bad if people invest their money in New projects that they even dont know and later on they blame the projects so its much better to save yourself from a scamming project and involve with well known. In 2017 people lose money because they did not sell on right time but now there are so many ways to gain knowledge so keep learning than investing blindly.