It’s definitely true.

Right now, there are around 1,500 cryptocurrencies that have managed to list on exchanges and get some kind of traction.

Out of those 1,500, there are 500 that are true shitcoins, 500 average coins, 400 good coins, 90 very good coins and 10 world-class coins.

Let’s look at the 5 different categories. Have a look at the summary of the complete Top 100 coins for reference. Out of the 1,500 coins there are

500 true shitcoins
These have either no actual purpose, development has stopped, nor partnerships or they are an outright scam (Quatloo, Titcoin, Metalmusic coin, Macron, Russia Coin, TrumpCoin, MetalMusicCoin, Bitcoin Diamond, Bitcoin Gold, Verge, Bytecoin,Bitcoin Diamond, Ethereum classic, Veritaseum, Hshare)
500 average coins
These have somewhat of a purpose, but there is no strong team behind it and they don’t have a good go-to-market strategy, maybe 1 or 2 partnerships and/or they are somewhat sketchy in various aspects (TRON, Litecoin, Dogecoin, GameCredits, Lymp, Monaco, Groestlcoin, QLINK, Chainlink, Bytom, Digibyte, Decred, Zcoin, BTCP, Navcoin, Populous, Monacoin, Factom, Revain ,Dent ,Bitshares ,ZRX, Cryptonex, Kyber network, Bancor, Achain)
400 good coins
These have a good purpose a good team and a good go-to-market strategy, and some partnerships but no special uniqueness or no oustanding tech that sets them apart from competition, e.g. (OriginTrail, Poet, MatrixAI, Komodo, NEM, ARK, DRGN, LISK, Stratis, ARDR, Rchain, EOS, Waves, Monero, PIVX, Enigma, Augur, BAT, SUB, PowerLedger, Steem, KIN,Dash, Syscoin, Storm, Wax, Mithril, Siacoin, Maidsafecoin, Gbyte, Storj, Golem, Elf)
90 very good coins
These have a really good purpose, a really good team and a really good go-to-market-strategy, are unique in what they do and strong partnerships (e.g. PRL, QASH, RLX, FUN, ELIX, Civic, THEKEY, WePower, XPLAY, Edgeless, Cindicator, Fusion, DBC, WTC, NEO, Stellar, Ontology, Neblio, Aeternity, REQ, Cardano, Nano)
10 world-class coins
These have a real-world purpose and already real usage and revenue, a world-class team and already have strong partnerships with Fortune 50 companies (e.g. IOTA, SKY, VeChain, ICON, Elastos, Nebulas, Ethereum, Enjin, BNB).
95% of the coins within the first 3 points will probably disappear next year and most of the coins within the last 2 points will also vanish, leaving us with probably 2–3 large coins such as IOTA, SKY, ELASTOS, ETHEREUM and 20–30 specialized coins, such as VeChain, Icon, Enjin, Funfair, Qash, ELIX, BNB.

The 2–3 large coins that will be the ones, whose tech is vastly superior to Bitcoin through these characteristics

Instant transactions
Zero fees
Near infinite scalability and decentralization through side-chain/off-chain/horizontal scaling
1 millionth the energy usage of Bitcoin
Those 3 are IOTA, Skycoin and Elastos and they will probably compete for spot #1. Here a little summary about them

Iota
Beyond the 4 above mentioned characteristics, Iota offers decentralized storage, Oracles and currency exchange, while Skycoin has just launched a completely decentralized internet an Elastos has the most comprehensive and efficient dapps platform in the whole cryptosphere.

While Iota is already worth $5B, they are a juggernaut and they will most likely make Bitcoin a run for the money soon. There is a lot of criticism towards Iota because it currently uses a coordinator to verify transaction before there are more nodes on the network, at which point it can be removed.
Skycoin
Skycoin offers decentralized storage, smart contracts and complete privacy. Finally, it offers the completely decentralized internet, Skywire, which might be bigger than all cryptocurrencies combined. They just launched the testnet for Skywire a week ago.
Elastos
Is the most comprehensive, efficient and most customizable dapps operating system and runtime environment.
Then you have the smaller, specialized coins. Here are the best ones of each market.

Enjin
ENJ is the best gaming coin At a $100M market cap, ENJ is a gaming coin that already has a network of 20 million players and is being integrated in the game Minecraft
Elixir
Elixir is a lending platform at only a $15M market cap. Elix has such a small market cap, because they have not done an Ico, though, they are on par with Salt at a $300M market cap in terms of development progress and further than Ethlend, who are sitting at a $80M market cap.
VeChain
VeChain is a BaaS (Blockchain-as-a-service) and Dapps platform with outstandingly strong partnerships
BNB
BNB is the fee token of Binance it’s one of the strongest coins of 2018 already and with Binance’s success will probably make it into the top 10 as well
Qash
Qash is in the Liquidity market $200M market cap, because Liquidity is a big problem in the crypto world that no one else really tackles
Bitcoin
Bitcoin will probably also still be in the top 10, though it will probably be knocked off the #1 spot by either IOTA or Skycoin and hover around #3 somewhere
Ethereum
Ethereum will probably also still be in the top 10, though it will probably hover around spot #5–#10.
So, there you have it, these coins could be in the top 10 in 2019. Old technology Bitcoin with slow transactions, fees and lots of energy use has been replaced by much better technology, but probably still be around the top 10 until it is fully replaced in 2020.