The very same thing happened with the flood of shitcoins in the early years of Bitcoin.
Humans are overwhelmingly shitty.
I don't know if there was a flood, there was certainly a few but most had some kind of plan, from my memory it wasn't untill Eth came along things seemed to explode in number of coins
You really don't know? WTF. in a short time there were thousands of useless fucking shitcoins and they had 1 plan only: making their imbecile creators rich.
