You are absolutely correct, it is not really by filling our wallets or portfolio with shitcoins, but the real and genuine ones we know could do better. It is just that some people are moved by the hype of influencers and celebrities who know nothing about what they are hyping just for their greed and selfishness. As a result of their involvement, they get many investors who really have no clues on research and have failed to do the needful before hoping into their hype. I have this experience my early days in crypto. Then I got a big airdrop that made me invest some fraction of it into projects and as at then I had no idea so I quickly buy and keep not knowing that most of them were shitcoin I just accumulated. Till this moment I still look into that wallet with regrets.
Sadly, the only ones who actually benefit from these sort of projects are three people, first the Devs, because they're the ones who call the shots, and then the so called influencers, because they'll be able to generate some revenues from the engagements they get by advertising these projects on their pages, the worst part of it is that some of these influencers already know that these projects are nothing but bullshit but when they notice that the project is already gaining some little public attraction, they take advantage of the whole situation and then use the public to generate themselves some income, having their own slice of the cake. And the last people who also benefit from these projects are the early investors, those who are already familiar with the ins and outs of those pump and dump projects and then they go in early with extreme caution and then when they realize they've made some little profits, they immediately leave tge market, securing themselve some profits and those who are naive and think that the profits will always keep coming, feel too relaxed and when the devs are also satisfied, they dump the token, leaving them to hold the bag.