There are quite a few that are actually trying to make a business go, but many, many notoriously bad pumps I have seen are run by:
1. Old men 2. With lots of debt 3. Ready to take some stale business public 4. Desperate to dump 5. Hire the most clueless, aggressive and abusive morons to pump for them
These cases are always the worst to trade... they start out between $1-2 a share, and relentlessly dump as they hire one promoter after another paid in shares... Most tanked and done within 6 months or less.