It's worse.
Someone looked at Bitcoin and soon after figured they could do it better whilst losing everything that makes it special.
Not only that, but thousands of times over. Literally throwing shit and seeing what sticks. Shitcoiners deserve whatever is coming for them.
Scamming people and then doubling down on not investing time to understand and learn the basics of the *only* currency to reach a critical decentralization point, anchored to the real world by PoW.