Why are most altcoins, except Bitcoin, just bubbles🫧

My understanding is that a altcoin can only become popular if it’s wrapped in technology, catching a trend, but inside it’s all just bubbles.
Take early AI as an example, which simply integrated all search data and connections, with no real soul or intelligence—it's basically big data as described by Web2.
Today, while driving, I was thinking about a question: there are very few genuine builders and projects in the crypto space because the effort and reward are never proportional. This circle mainly depends on background, backing, and funding. Grassroots projects, no matter how hard they try, are destined to be cannon fodder. It’s often better to do fake packaging and harvest some gains. In the end, bad money drives out good.