I have crashed few of these to interact with young devs and give Uncle advice... try to nudge them towards Bitcoin.

It boils down to:

- Almost all shitcoins have dedicated event organization teams and their KPIs are geared towards attendance and doing these every month.

- It's a marketing budget for them - whenever centralization argument comes across - they can point to these events and be like - no, we're grassroots.

- What's important to realize here is that these are not that expensive to organize. You basically need one whale to fund and once your event team is up and running, you just keep throwing these.

- It is quantity over quality approach. Event teams pull in whoever they can - selling "blockchain training" to everyone; startups to enterprises who send in a lot of their devs. Contrast this with Bitcoin dev events... for "the best ones" you literally need a special invite from organizer (depends on your reputation in peer group).

- A lot more grants and funding. Not saying that everyone is on Consensys payroll, but as a dev it's much easier to win $25K grant through shitcoin project, than get $25K grant in Bitcoin.

TLDR: funding & marketing expense.

Kinda comparable to VC funding - a lot more money for crypto (a16z) than Bitcoin (Ten31).