it is gradually making sense because coinbase has shown that it has no genuine reason to explain why they listed dogecoin. known the fact that it has nothing to offer but just meme. A meme coin goes to coinbase, one of the most reputable exchange.their token sales that plummet down below IPO price shows that they have nothing serious to offer. they might list shibabu coin soon because of the high vloume and marketcap.
I agree with what you are saying and I can relate that to what @KaliLinux has said below.

Normal projects that have a product can hardly reach the price of $ 1. And 1 post of Elona sent the D.. to the moon. I think we started to devote too much to memes on the Internet. They just stopped thinking about the quality of the product.
I also think we are getting to that point in the cryptocurrency space where most investors are not really interested in what the coin/token is all about and what it provides but rather people invest now because it is been promoted by a known celeb of Billionaire.
I believe this is the same virus that has come over an exchange like Coinbase pro where I believe if not for the Hype that has put Dodecoin where it is now they probably wouldnt have thought of listing it since they didnt since the existence of the coin, so what is new now with dogecoin oustside the Hype?