It's because crypto is red hot at the moment (and has been since the last crash in 2017, actually) and people just want to try to discover the next bitcoin.  It's never gonna happen, but that won't stop people with money to burn from trying.  There's also this:

I'd say most of crypto investing is gambling, but if you're buying a coin that has no use whatsoever and can't be used as money....that's gambling, plain and simple.

I also think a lot of folks are watching popular crypto Youtubers and reading stuff like that Reddit post, and there's a sort of mentality that makes people want to belong to the clique that's investing in whatever the hottest coin/token is.  A lot of people are being misled, too.  Those Youtubers aren't making videos out of the goodness of their hearts; they're either earning ad revenue or they've got paid sponsorships, so they have to come up with ideas for videos whether they believe in those ideas or not.  On top of that, it's likely that many of them are just hyping coins that they've already purchased in the hopes of driving up the price.  You know, the ol' pump & dump scheme, which we've seen happen repeatedly.