Kanye West is someone whose actions and opinions are quite unpredictable. Especially lately, he's completely gone off the rails. By launching a coin like this, he seems to be trying to make some quick profit. Since he himself stated that he would hold 70% of the coin, the possibility of a rug pull is very high. I won't be investing in this coin.
That is Kanye's personality, he is eccentric and that's why he is unpredictable and you don't know what he is going to do or say in the public. However, we still have control though, simply put, if you don't support him then do not buy with his plans to launch his coins.
And yes, as we have seen before, there are a lot of this personality or meme coins that will do rug pulls.
For sure others have heard of the President of a certain country that promoted a project and then it was a obvious scam and now there are talks of him being impeach as the President of that country.