The barrier to entry to create a new coin is pretty low. Currently, 100 BEE (https://tribaldex.com/tokens/create) or about $15 USD at the time of writing.

There are more BEE fees to give the token abilities such as Staking, Delegation, etc.—but all those fees are also in the same ballpark IIRC.

This means anyone with some spare cash and a dream can spin up a token on H-E.

Now consider that 90%+ of startups fail (https://www.failory.com/blog/startup-failure-rate).

Startups generally cost way more than $15 to spin up. Any token project is a "startup" in some sense. So most of these token projects "fail" to hold any value over time due to being poorly planned or simply abandoned.