As in horse betting you bet on the jockey. As far as Doge is concerned you bet on the community. Community is everything as some are very sensitive willing to bet it all. We may even see the rise of some shit tokens. It’s the ultimate example of network effect in real time. :)
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There is little doubt of the power of the Network Effect so to overlook it is a mistake. #DOGE has a strong following. To me, one of the big question is are they mostly speculators. That might not be as loyal as the community on, say, #hive where there is a core group that is looking to expand the project.
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