As I said 3 days ago, when he announced it
"If you were to sell 0.001 token for $1.00, you'd then have a Billion Dollar Valuation. ;-)
This reminds me of a stock market simulation in my Econ 102 class. With a fellow student, we picked a few stocks, and sold them to each other for a very low price, and then bought all of them up as the other students watched the trends. We repeated this for 1/2 of the stocks in the simulation. We then sold each other 1 share of those stocks for $99.99 (the maximum price in the simulation), and ended up with almost all the money. 8)
The professor thought we must have hacked the computer, but we played by the rules."
It is obvious that all the new cryptocurrencies are just like that econ 102 class simulation, and just as vulnerable to gaming, but this time with real money.