It's an open permissionless system, so of course the low hanging fruit is going to be speculation, sketchy tokens and scams. These require the lowest effort. It's the exact same thing in the traditional financial system.

Speculation is very important value-added activity in any system. In my opinion anybody who couples speculation with scams and value-destroying activities together loses credibility.

Speculation that isn't coupled with indicators of a productive economy is a complete scam, like this is.