Change my mind: the vast majority of crypto investors should be mostly invested in BTC and ETH

Yes, at this point, you won't get fabulously wealthy from BTC and ETH unless you start with a lot but you also have the lowest risk of being wiped out... It's the safest thing there is in crypto.

The reason I don't think most people should allocate more than maybe 10% of their assets in altcoins is that I think they lack the crypto expertise to really be able to understand and analyze altcoins and they lack the time to keep up with the developments in crypto which moves pretty fast.

I think my viewpoint is further reenforced by the fact that the proportion of shitcoins to legit projects is ridiculous (like 500:1) so the chances of them stumbling on a shitcoin is very high and the legit projects are often less flashy. And even the legit altcoins can wipe you out. BTC and ETH will most likely survive and have some value... basically nothing else is guaranteed.

Plus there's the fact that the high profile shitcoins like SHIBA and PEPE are only profitable for crypto insiders... Any average investor is just their exit liquidity because they will by definition be too late because they weren't let in on the secret when it was still worth buying.

I'm not saying there are no other legit projects besides BTC and ETH... There are a lot. I just don't think the average crypto investor really understands them and I also think that even legit projects have a high risk of failure.