According to what you say, most of these altcoins/tokens are actually gambling chips, and the people who buy them are actually gambling with them because that's their only purpose. In that game, most players lose everything they have, and they say that this percentage is around 95%, while only 5% profit.
I wouldn't call it a fair game because all these projects promise something completely different, while in fact they are essentially frauds that only individuals get rich from. In the eyes of the regulator, this is a problem that is being tried to be solved, despite the fact that most people think that someone is taking away their right to trade.
And what that make me! I am also BTC optimistic and came to know the strategy of such shitcoin projects of collecting funds. Because i used to work in bounties and many projects promised that they will do that and this but at the end. All they do is go away with all the investor's money.
I also tried my luck with some alts but it didn't go well due to less knowledge so i left it. I totally agreed with your point of gambling chips because shitcoin really are one. I have seen people making hell lot of money and at the same time in the same projects people are losing hell lot of money too.