There is greed in any industry, such as the stock market? I think there is no essential difference between the bloodshed of encryption and the greed that appears in the stock market and various industries. The most important thing is whether the industry is developing and gradually tends to be rational and healthy. This will not only take time , It also needs leaders with ideas and technology to come out and purify the situation.
Well decentralization has tried to curb these human problems though the problem still exists because complete decentralization is a difficult setup to process. Today most people entering this sphere only look for the quick gains, this leads to non-buying or established assets like Bitcoin and buying or shitcoins and investing in platforms that are less-tested and only based on hype.
Eventually these people understand their folly and they learn their lesson or just leave with a loss. The developers or any project are in for some gain, you have to understand this right away. But your objective would be to diligently invest and get out in time. For shitcoins this is often a myth and by all means they are called shitcoins for a reason.
I have to say it is not going to be that easy to convince people that it is not a marvellous idea to start a new project. Lets be honest with each other we are talking about one of the best ways to make money and that means it is not going to be that shocking for these people to keep spouting newer and newer stuff. It is easy to fall for something that looks good, but 99.99% of all new projects are just way of making money for the devs, and why would they even stop? That is why we just have to learn to live with it.
I personally do not invest into anything that has either lower than 2 million dollars marketcap, or anything that has been released to public in the past 3 months. It has to be over 3 months since release and has to be over 2 million dollars to see if they are legit.