Not necessarily. Pumps can get coins to top 100, coins that are not backed by strong projects and they'll probably fail.
Even with projects considered strong, the risk is there - just look how bad were the last 4 months for Ethereum, even compared to Bitcoin.
High risk and high profit, of course. And yes, "Still needs to choose very well". It's not easy to find projects that will really have a future.
This is the way. This and some degree of diversifying can do great things. A bit of luck is also needed.