I used to hear a comment that the more altcoin the better.
but the fact is that altcoin is currently difficult to get up and dying, I think more and more altcoin will be destroyed and abandoned.
We do not wish to have this lots of altcoins where almost all of them are worthless or not potential in the future.
But due to the popularity of ICO, lots of people with ideas try to raise funds and some even try to use fake profile just to scam investors.
In short, they are taking advantage of the market which is not fully regulated yet that's why the scam rate is really high.