They don`t care what it do or even does it do anything, the primary goal is to have profit as fast as possible, and we know that is not possible, someone has to lose for other to gain
And if you say something bad about project or try to reason, they will behave as kids who lost lollipop
I blame the investors. People wouldn't try these shameless cash grabs if they didn't smell blood in the water. And this is because we have literal children that can't spell due diligence investing in these assets. The SEC has a purpose, if this sphere were regulated, people wouldn't even be able to advertise some of this stuff.
I think its a 2 way game
1. Sometimes investors hype projects intentionally with the intention of an early exit making younger, new investors take losses
2. Devs hype exceedingly making Investors take a loss.
While am anti-regulation (personally) - It'd be interesting to see if smart contracts and other innovation on the blockchain can help curb some of the embezzlement occuring in the ecosystem atm.