The process of getting listed on Coinbase can be a long one but other times if it has enough hype around it then Coinbase will mainly list it in order to capitalize on the fees like in the case with the recent trump coin.
However, Coinbase says they do still manually review before listing the tokens which might be the case. As long as some basic checks are in place and some times a listing fee paid then the token could get listed quickly.
Now the main reason why Coinbase is rethinking this is because of new platforms such as pun.fun and even wax now has a version of this where coins aka tokens are listed constantly. This is causes millions of tokens to be created per month while coinbase pretty much lists none of them. Makes me wonder though why they still haven't added steem or hive?