You are absolutely right. Meme coins are shitcoins, and as such, are only good for pump and dump.
And don't get cocky, as soon as it pumps, the team behind it will dump. If you're lucky, you might get some profit, but at the cost of so many naive people losing money
Isn't it the nature of the cryptocurrency market? Bitcoin, Meme Coin, Privacy Coin, and any label fall under the pump and dump schemes. Whales accumulate, then pump the price before dumping their stash, create fud to accumulate again, and the cycle restart. Anyway, I always believe it all depends on the developer, ETH, and any other known altcoins had been subject to dev dumping their stash, but if you know any dev that doesn't sell their coins I will admit I am wrong then. Though I agree 100% that in order for one to get a profit, someone needs to produce in order for us to gain profit.