Agreed. Shitcoins are like pennny stocks but not even audited or held to much scrutiny at all. It's more like investing in a github repo.
There are, however, plenty of real projects backed by real money with real employees, open books, and have proven resilient over these handful of years. If the economy gets pumped full of fakeass USD causing stonks and crypto to triple up, I'm not going to be one to say "Yeah that value is so real". My fave stonk Square (SQ) (I refuse to call it block), has net me several boatloads of money since day 1, and now it's dropped to only a couple boatloads. Does that mean it's now bullshit? No. It means the economy has a mind of its own and let's not pretend it makes much sense. It's more powered by emotion and guessing than actual worth.