On the contrary, I believe that you need to support young developers. They may have brilliant ideas and not a coin of money in the account. How to develop without cash? Investors helped me a lot at one time, and I am grateful to them.
And after you got on your feet, did you help some of the newbies? I once had such an experience, but nothing good came of it. It seems to me that your experience is more of an exception than the rule.
No, I disagree; if the project is really worthwhile, then I would take a chance. The only problem is to recognize a real work of electronic art from consumer goods.