There's nothing inherently wrong with snake oil [1], either.

[1] That is, "mineral oil often mixed with various active and inactive household herbs, spices, and compounds": https://en.wikipedia.org/wiki/Snake_oil

I agree, even though there are a plethora of scams in the crypto-world (I'd say 90% of projects are scams), crypto gets a lot of hate. I assume it's because people were burned early on during the 2017 craze. That's also when every company realized VCs would throw money with anything related to the word blockchain.