You just said the truth and which is why most investors no longer care than buying and dumping the token once it gets listed. To make it worst, some projects goes to the length of copying others whitepaper, while some will replicate another project and just add a little feature.
What it will actually take to impress most investors nowadays is when they see a product or service which is being used in the real world without issues, at the same time the team is willing to ensure upgrades is done as at when due.