To my understanding, I don't think many people are concerned about the risk factor of bitcoin, some are very aware that it has little to no risk compared to shitty coins but you'll still see them investing on shitty coins why? Lack of patience, It simply because they're more concerned about the time frame of holding, some can't wait to start profiing and taking their profits sooner than later.

 To such people, they believe that shitty coins could give them quicker profits and won't mind whether it's more riskier than investing on Bitcoin but it mostly end with regrets cause shitty coins would always do shitty things and In return, drag them back to bitcoin investment and by then they would've missed out on several opportunities coupled with the time and money wasted on shitty coins.