I definitely would not say that.  The botnet problem is understated if anything.

I was there for Monero launch on the first or second day and got 0 coins mining with two CPUs.  There's just too much CPU power out there for really any CPU coin to be considered "fair" in the current environment.  Same thing happened with that Cryptonite coin.  Some guy posting about how he mined with 30 CPUs on the second day and got 0 coins.  I mean come on, just how many CPUs is one supposed to own to be able to mine a CPU coin?  These things are just charity events for botnets at the moment.

I've mined tons of GPU coins at launch before and even if you only put a single GPU on them, you would still probably get a block.  Thirty CPUs and no block for Cryptonite launch just indicates an invalid mining scheme.  Botnet resources are just far too high for low market cap coins.  It would be much less of a problem for a coin with a large market cap, but all this tells you is that it's completely pointless to launch an "altcoin" utilizing CPU mining instead of GPU.