I think it's not necessary anymore as it still belongs to the "scam" group, which is illegal and the people behind it should be liable to face criminal charges. That's why investing in crypto is considered risky because of these scams.
Scams are everywhere, in all industries and not only in blockchain or cryptocurrency industry. If we consider cryptocurrency industry as a new one and other industries as traditional ones, we can see there are many scams in traditional industries too.
Fake or scam companies, brands that try to mislead people by their brand names that are similar to famous brands, if we see it, it is not too different than altcoin projects in cryptocurrency industry. The blockchain industry and smart contracts allow scammers to easily deploy their scam tokens and get rich quick while people who believe in bad projects, will lose money.
However, nowadays, people are more educated and mature, so they won't fall for these scams easily. Only those who do not do their own research before investing will fall for this kind of scam.
Education can bring knowledge but there are other things that affect people's thinking and action like their favorite strategy aims at get rich quick scheme or aims at safety of their fund first, it will decide their practice with capital.
Practice with capital, management of capital and risk, will decide what type of investment they are ready to do. Invest money to altcoins or to Bitcoin. Invest or trade, it depends on their plan to get rich, trading to get rich quick or invest to get rich gradually but more sustainable. The warning is with trading, usually most of people don't get rich quick but lose money and get poorer quick.