The crypto world is growing every day and new projects come with new innovations, if they can make it happen I don't think that's a bad thing.
It's not a bad thing, but new projects are related to scammers, imagine 80% of new projects end up miserable,
lots of shitcoins popping up and making a bad view of the world of cryptocurrencies,
if the new project has strict regulations, then I will support it.
Well, it's like many startup projects out there, not just in this crypto market. After using up investors' money, up to 90% of startups fail. And this market is no exception.