meme coin is honestly nowadays getting beaten up by legit altcoins in terms of short term return, currently the tides have changed and it seems many legit altcoins like optimism, arbitrum and many similar are just giving better profit in general than meme coins, so I guess the trend is fading in 2023
When everyone are seeing quick money making paths through these memecoins why would they put efforts in making some projects that solve a problem providing utility to the users so no need to go that way.But this is temporary phase and only the creators will make money only not anyone investing money in them.
as you've already said its quick money making which means its highly speculative, many that invested in these coins are actually knowing fully well that they are speculating though in regard of financial responsibility that is not mine to judge.
so I guess they already know that its quick money making which risks them of losing money which is fine for many that invested in these coins honestly. but one thing needs to know is that meme coin is highly manipulated, there are definitely some schemes there that could give benefits towards the early birds, and the question is how you can be the early birds? it might be through inside information, after all not all meme coins are having the flow of investment going in.