Of course new projects are still very promising but it's getting too hard to find the rare gems among the bad projects, it's like looking for a needle in the ocean, sometimes even promising projects failed, the best advice is always use diversification on so called promising projects and invest only what you can afford to lose, thanks for the nice post OP
Precisely, you will rarely identify a high-potential profit project that has a use case. Usually, recently developed projects end up as fake and scam. Also, we can’t make any certain assumptions about the market, so we can’t conclude the future of a project. Thus, it requires a thorough evaluation to understand the risk. Diversification is a good technique, especially in an unpredictable market, it reduces the risk and it offers more opportunities. Regardless, Polkadot seems to handle it well, as it maintains to be in the top 10. It has a lot of potential for a new project because it was able to keep up with old projects.