Can't you say the same for bitcoin? Anyone can make a bitcoin clone, just like anyone can code a ridesharing app in a hackathon, but your clone isn't going to be the one recognized by everyone.
But crypto clones are much easier to create and have adopted than a company with real infra. The phenomenon of “this coin is too expensive let’s buy this new one hoping it’ll moon” is very real in crypto and encourages the creation of clones. Then miners then trivially shift their hash power to whatever clone gets the crowd interested.
