One of the greatest challenges that ERC 20 projects face is lack of liquidity, along with centralized teams who don't have much expertise in blockchain, yet managed to do a token sale at the right place and right time. Bitcoin has the seniority, tenure, and shared vision, even though the top wallets control many of the coins.
I can think of one specific project on the ERC20 side of things that was opportunistic in taking advantage of the market, while pinpointing advisors who hold a prominent position in the market, yet contributed nothing to its development. That project is OmiseGO. Used token sale funds to grow its core business, advisors publicly admitting on twitter they did nothing for the project despite receiving a payout that will likely set them for life, and delivering only a wallet in 15 months time. Very sad that these guys are able to walk freely. The only downside of unregulated markets is those who market honest intentions, but have ulterior motives walk freely and with wealth