Market cap is irrelevant when we don't know the trading volume, if I created a million random coins and sold one of them for a thousand, I'd have a billion doll

Market cap is irrelevant when we don't know the trading volume, if I created a million random coins and sold one of them for a thousand, I'd have a billion dollar market cap coin, despite only having a thousand dollars of real money involved. And we definitely don't know the real numbers, reported tether trading volumes are total nonce, they wash traded them to the point that they report higher volumes than all the world stock/bond markets combined.