99% of project with real usecase has a VC thats already bought in cheap b4 the ICO. They own big chunk of the supply and would be up 1000+% by the time the coin is listed on any T1 exchange. Then they would pay bunch of influencers that would convince you that the coin gonna change the world.

Meanwhile, they would happily cashout their supply to the suckers believing the story. After relentless sell pressure, followed by bear market, the coin would be down 80%

People got tired of this. so a 100% unlocked coin that has no need for team or funding becomes the goto formula for making money. At least meme coin is honest. Its not pretending to be anything other than a joke.