It is important to note that being a coin and running on a blockchain does not give any extra legitimacy to the project. The developing team can put in a little effort to creating a crap blockchain and investing loads on marketing. This is not false advertising cause it is actually a coin but a shitty one.
So, for the sake of accuracy, these products are called "Alttokens" instead of "Altcoins" as long as they are still a token. The popular term for such products would then be "Shittoken" instead of "Shitcoin" accordingly.
In your example it will be tokens and not alttokens, cause there is no top token the way we have Bitcoin and it is not an alternate version.
I am okay lumping them all as shitcoins or altcoins, cause making a distinction makes some look more valuable than the others.
- Jay -