It was inevitable that shysters and scam artist would be attracted to this market, people should always do their due diligence before investing in any ICO.
It's ironic how BTC and ETH are being considered 'old hat' already just as the world is starting to hear about them through the MSM but that is the nature of new technology, we've seen it before in other sectors.
Blockchain tech is still so new and while many of us here at Steemit are well versed the majority of the world still hasn't even heard of it and will more than likely opt for the less expensive alt coins when finally they invest. I'm not overly concerned with a huge overnight crash in BTC & ETH although I do have a phased exit strategy out of both in mind due to the scaling issues.
The biggest concern for me is the mass adoption of centralised blockchains run by governments, it may look and sound the same to the uneducated masses but we know it is not.
The best we can hope for it that happens if that we have achieved financial independence prior to it occurring because being forced into a government controlled blockchain currency would the next fiat scam that will be used to steal our wealth. Except this time there will be no physical currency available to escape the system with. Let's hope not eh!
Great post dude.