Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .
Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.
Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.
They deliver small updates only to push the price higher.
They spent hours live streaming almost everyday.
They trust hype more than anything and a finished product will ruin it.
Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.
Of course what you mentioned about Alts is true, but not all altcoins are built that way, there are also altcoins that are built and grow with many use cases so that they become altcoins that can dominate the market. Some projects are developed only for the purpose of deceiving investors so I don't think they will last long. but if the project is developed for the advancement of Blockchain technology then I think that is the project that needs to be fully supported