Basically 99.99% of the new projects are trash, just to follow the trend, create a meme coin or "too good to be true" kind of scammers.
All of them are driven by greed, so they all end up in oblivion.
It's easy to create token out of thin air as ERC-20 token based on ETH standards without even looking for security bugs also merely for the purpose of making the founders rich out of your pockets.They don't have any utility to offer to the public and only attract you with some lucrative offers and people in the hoard of seeing some fake potential returns in future invest in them but later on it turned out to be scam coin.
At this time there are around 18k cryptos listed on Coinbase and out of them 99% are shitcoins just setup for the purpose of scamming you people and they need to realise in what they are investing their funds.