Indeed that's the stage we seem to be at. I suspect there will be a shakedown at some point in the future where things become more rational- and at that point the companies with products and adoption will survive the cull. Two guys in their garage with a white-paper essay just won't cut it anymore.

Sticking with "value" (i.e. Steem, BAT, Ethereum, BTC, NEO) seems like the most prudent approach going forward.