Cryptocurrencies with algo cryptonight is very much and originated like mushrooms after rain. Unfortunately, many of them were worthless and disappeared as quickly as they arose. Personally, I think it is always the risk that will be successful.
Verifying basic things like the support team and the project as a whole can be helpful - This helped me, for example, with the X-cash project. After a short time, it will become clear whether it makes sense to do mining.
Yes you are right it is better to mine coins that are verified. But it is also good to monitor new projects, because there may also be a project that will be successful in the future. I would not lose hope in serious new projects - with different algorithms.