The saturation of memecoins and the ease of "deploying" them has led to a loss of value and a chaotic market, suggesting that investing in new, unvetted memecoins carries significant risk. The author, Cooker, indicates he deploys them "for fun" and doesn't profit, highlighting the speculative and non-investment nature of these assets. This insight suggests caution for investors considering new memecoin projects due to market saturation and lack of intrinsic value.