This is the inevitable end state of memecoins (and pointless content coins). If it’s easy and cheap to create people will, with no intention of follow through, just micro extraction. The other word for this is a production Sybil attack. Now, coins that at least attempt to have utility, for security, governance, utility, payments, etc are harder to fake. Like even writing a semi coherent white paper via ChatGPT takes some effort, you couldn’t do it 300 times a day. The other word for this is proof of work. Meme and content coins are an asset class about nothing, which is where they’ll end up.