it is true that the number of altcoins continues to grow, but the really good ones are only a few, maybe around 70% of altcoins in the market are shit coins, so you have to be very careful in choosing altcoins
Since the blockchain was an open source platform and there have been lots of people were creating and building their own blockchains and the introduction of the smartcontract was making it much more easier to create a new token or security token. Some people have complained about this but this can't be prevented because they were creating it with their own intention.
As long as you nor he was choosing the major coin and it must not be a problem.