It is completely useless coin but it can survive as long as it has volatility because most people uses cryptocurrencies as investment so basically they don't really care about the technology they just look at the price growth chart before making investments that's it.
I think good and long projects have been given as much damage by these memes and Shit coins, No other factor did this . They completely change the way of investing. Before This investor first researched well in project and then selected a best suitable project for long term but when meme trend come , everybody just looking for Zero . The more zero in coin the higher chances the investor will buy it. They did research who's behind the team and what is vision of project but invested blindly.