That is what happens in an unregulated milieu: chaos. The trouble is most of those projects range from crass, unabashed imitations to pure scams and just a tiny fraction are tangible and have a working products, of which a tiny fraction of this actually survives up to a year. Yeah. Always do your research
an unregulated environment is an area that is easy to manipulate, so there is freedom for people to commit fraud, this kind of project does not have a good community, team and developer, but the product serves as a tool to manipulate people's desires to commit fraud, so be careful Be careful in investigating such a project, doing research and evaluation all the time.
Only a few projects are there that are providing value to the community, the rest of the projects are just bad copies of the real ones and are only there to make money to the developers by capitalizing on the HYPE provided by the original projects. So, that's the reason why most of these projects become dead after over a year or so, as a matter of fact most of these aren't able to get listed on any exchange if it wouldn't have been for those decentralized exchanges where some idiots fall victim to these scams and hand over their money to the scammers.