That's the angry bee perspective, yes. The "milker" narrative is based on fundamental analysis, which is sound. But crypto isn't always affected by fundamental analysis as much as we'd like to pretend it is.
Here's what I mean. There's a great analysis of what makes altcoins a good investment, just looking at the past charts:
(skip to 8:42)
To me, the key difference between the "degens" and "oscillators" they're exploring in that video is marketing. Sure, some of them market and are still "degen" coins. But I still think marketing is often a bigger factor than the fundamentals.
Interesting, I think Hive is on a test to see which one of these two types of coins it is. And it makes sense because marketing (and the strength of all the community) was what brought Hive to be worth almost 1 USD. Thank you for sharing that video.
From a marketing perspective, it is most certainly a degen. When it was on its way to $1 USD, it was benefitting from inadvertent marketing. Once that dried up, it went back down. Clearly, we need marketing.