That's absolutely true. However, when it comes to investment decisions, just being listed on major exchanges is not sufficient. It's indeed an important factor, but not the sole determinant. To delve deeper into the significance of listings on Centralized Exchanges (CEX), many projects start by listing on smaller CEXs and then proceed to get listed on larger ones. This happens because they have a strong development team and a well-functioning product. Consequently, new investment funds may push a project to be listed on larger CEXs. But to keep track of such projects effectively, you need to invest a significant amount of time into monitoring them.
right now i think things has changed, good project didn't start out with small exchange listing, they just outright getting partnership with the reputed investment lab and venture capital also getting listed day 1 in one of the biggest exchange, meanwhile the coin that got listed in small exchange hardly ever climb up to get listed in bigger exchange and usually get reputation tarnished by getting listed that "small" exchange.
therefore its not really project should start out from the very bottom.
just one good idea and innovation already set them up so long they got connection from the reputed venture capital.