But sadly, we don't know at all because the new project only looks good at the initial launch to attract the interest of the investors and after the launch, there are so many delays that they do so the investors lose faith in the team of the project.
This has happened many times with many projects and only a few have proven that their projects can provide something for their investors.
The key to investing in a new project is only to use the money you can afford, and then don't expect the new project to give you what you want because the new project has to face challenges from the market and compete with other new projects.
It seems to me a lot depends on how you filter projects! We need to understand in more detail what the project offers. At the expense of competition, of course, you correctly noted this. There is different competition in different spheres and therefore it is certainly worth considering. But I think there are many worthy projects on the Ethereum platform. It seems to me that the Ethereum platform is of great importance for the cryptocurrency industry. And altcoins themselves occupy a huge chunk of the market, probably the largest part of the market of all cryptocurrencies, and it is very strange to try to push them into the background. Of course, there are not entirely successful projects and this is also worth considering, but trying to push the altcoin market into the background is absolutely wrong!!