Tech alts are just memecoins with extra steps - Change my mind

As per the title, 99.999% of all altcoins are memecoins masquerading as equity-like shares in a software product - which in reality are just worthless vaporware. These token are almost always completely useless to their respective protocol, thery are hyper concentrated (80%+ in the hands of team, angels, early VCs etc), full of unlocks overhanging and their price depends not on the product, but rather on having an actual community pumping the token. Community which most often than not, simply does not exist (as nobody really cares).

Most here on reddit hate memecoins. But I believe that memecoins (in particular those that are doing real community building) are much more "honest" crypto assets. The supply is fully circulating, no airdrops/tokenomics/ supply gimmicks, they are well distributed and decentralized and are trying to build a community, a brand, a movement.

Memecoins have more utility than 99.999% of bs tech alts as, by taking part to them, participants enjoy a sense of collective mission, belonging, meaning, purpose, adventure and network which most people crave for in today's world. It would be stupid to think these things are valueless. Quite the opposite, these things can be worth A LOT to millions of people.

Change my mind.