The creators don't have (and don't really need to have) any amount of sweat equity in their projects because in this frothy environment, nobody even expects them to (which, I know, is stating the obvious) because, I feel, much of the equity flowing into these projects is pure short term speculation. So, from the creators point of view, they don't care about proving out the validity of their concept because they know they'll get the money they desire. From the "investor" point of view, they don't care (in aggregate) about the validity of the project either because they only want to ride a short term hype bubble to a quick 500%, then claim investor victory. This is a caustic situation for all involved and those who are not paying attention and get caught in the hype at the ATH for a particular project will pay dearly for this two-way moral hazard.