Yes its true, one thing that is concerning is that there is no differentiating in the creation of a cryptocurrency that has its own private blockchain, versus one that is simply a token on Ethereum or Solana's chains (which are primarily used, there are others).

I wonder of the 2.5 million, how many have their own block chain? That to me would be a better definition of how many true cryptocurrency exist. I bet no more than 1 thousand.