In beginning of 2018 there were a lot of alcoins was launched in market, Most of them was just to scam people with typically referral method by social influencers.
This was also a flaw of Ethereum blockchain where any single person can create his own coin with his desired supply and name by costing very low fee.
As with the help of Ethereum blockchain where it was super easy to generate any coin it was easy to launch any ico with high promising goals and convince people to make their money multiple x.
Those scam or ordinary platform make alt market dirty game. And this impact very badly on the genion project where many traders lost their interest.
An altcoin can only be worthless or dead when the team want it to, that is, is it possible for someone to be working on a project, putting his efforts, money, time etc and the project still dies? The answer is NO. So everything comes down to the team playing their part, if they are willing to work, the project will continue surviving and so is the altcoin as well. On the other hand, there is no need to blame Ethereum blockchain for anything, humans are unpredictable and those creating scam projects were after money while some who created a good project were after the well-being of humans. Furthermore, there are still scam projects coming up everyday so there is need for due diligence at all times.
I do agree with that. if the team is sincere in advancing their project and they already put too much resources in developing their platform, i don't think they will want their project die without a fight. they will find ways on how to stay afloat in the business. many projects that were dead were mostly created for the benefit of devs' pockets. and they don't have the intentions to move forward. even if the project is faced with bear season or criticisms, they will work on their project and continue to serve their objectives. that is, if the project is authentic.