I don’t think just because of Bitcoin, most probably new tokens are here to replicate other project and either to scam people here or to really compete with those altcoins, that’s the only purpose they came here in cryptomarket. We should be able to see their difference and invest only with the good projects.
Hah, correctly said, the main purpose behind them is the rugpulling of money from newbies who are enthusiastic about new projects and therefore they can be labelled as scams. There are those who are not educated enough to be able to detect scams from legit projects in this sector and they fall prey of such scams.
Although not every project is made to be a scam, but strictly speaking, legit projects are like a needle in a haystack. Today some project might seem legit, tomorrow it might go bankrupt and run away or the humongous amount of fake projects will overshadow the legit project.
Use an altcoin, only if you feel it is solving a real life problem, not some made-up thing that is not even a problem at all.