There are projects out there with real use-cases. However, most investors are there for profit, not to support the project. Investors come in and out of new projects taking all the profit they can while they can, and that is how the market goes. Only a few people are doing their research and investing for real technology.
Some of the projects may have real use cases. But how much acceptability they are able to gain is very important. Also, we need to check the ability of the developers, to resolve security issues and bugs. Having a real use alone won't make the project a successful one. Another important aspect is the availability on major exchanges such as Binance and Huobi, which can result in an increase in daily trade volumes.