the answer is yes ... they are. However , as you noted, some of them actually have a real use - and it is those that we are going to see rise to the top eventually. What many people don't realize though, is that when it comes to trading - especially day trading which is what a lot crypto "investors" are doing right now -the only value required is that you believe a coin /stock is going to make a move. This in and of itself creates a market - some think it will fall so they short it to catch the fall - then when the short expires , they are forced to buy it - others watching the market see that it needs to be bought to cover the shorts and will bet on it themselves buy trying to buy it up first - pushing the value up - when the value gets too high - the cycle starts all over again - that alone - can keep a coin/stock moving for several years - even if there is not true intrinsic value - traders are simply looking for short terms moves up or down - if you can walk into a marketplace and move in and out of it quickly - you are really only looking at chart fundamentals and not the underlying asset. This is a game that can go on for years....