The top portion isn't all that correct but the meat and potatoes of the post is right on. Tokens = not money. They're not a cryptocurrency, they're worthless.
Everyone and their mother is coming here to scam because Steem users are welcoming and nice. That's all there is. Steem users are nice people, they believe someone else cares about Steem. Scammers are playing on that.
About 6 days ago I made a post about this, it touches on a lot of the same things you've said. I've been here for a long time as a user, as a witness, as a project creator, as a dev. What's going on now is complete dogshit and will do nothing except scare away any legit investment and keep attracting the scumbags.
That's the true essence, and I really hope we can steer out of it!