However, not all new projects like that, some of them really have quality. You must know OGN and CTSI (Cartesi), these are true examples of good new crypto coins. So, don't be too skeptical with new projects or new crypto coins nowadays.
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Indeed there are good new projects out there but there are also scams and potential to fail. This is why i'm only convinced if you have a new solution and capability to develop it, i look at confirmed partnerships as well not just a paper but a partner should be able to confirm from their side that they have indeed partners with the project. The bad ones are way more than the good ones