I have bought or mined altcoin for the same reason I have mined and bought bitcoin.

The process had been the same every time. I come to know about bitcoin. read the whitepaper and decided whether it is of value. Mined it. Then mined more and bought it at opportune moment or some time were forced as old exchanges closed on me. I usually don't buy POS unless there is an arbitrage opportunity. For example, when it was not possible to mine bitcoin anymore with cpu / gpu I used my cpu / gpu s to mine altcoins. Even at that time I expanded my cpu farm and gpu farm during the whole of 2016-2020 until GPU shortage made the price go to moon. When 1 altcoin is not mineable anymore I used the GPUs to mine the next alt coin depending on the objective of the alt coin. I am not influenced by Elon to buy a particular alt coin. Because i don't think elon has as much understanding of crypto as I have just like I don't have his vision in electric vehicle and space voyage. I respect him hold tesla stock for long time but I do not blindly follow him. Actually when he tweets about a failed alt coin that may be the time to sell it. If I had one of thosecoins then I would evaluate selling it after Elon tweets about such a shit coin. I basically buy an altcoin that has a promise which bitcoin did not have or may be bitcoin did have that promise but is bit compromised in case of bitcoin but is implemented better in that altcoin. I rarely ever buy a coin without mining it, holding a personal wallet and doing some real transaction with it just to validate the use case.