Fundamentally, what folks are trying to get to with crypto is a trust-less system, one that can operate regardless of whether or not there are bad actors involved (including and most commonly as the central authority, aka banks). Historically, it's been a lot easier to build systems that don't account for bad actors, and it's been continually problematic for society because that assumption is so obviously and blatantly false.
Maybe crypto, as we know it, isn't the solution, and certainly proof-of-work has serious negative drawbacks. However, with the advent of automated computational devices, the possibility of evolving past our many-thousand year old system of bartering is too enticing to just ignore. We know there's a better way, and the odds we'll nail it on the first try are nearly zero, so I personally welcome any attempts that lurch us forward in the meantime, even if they're not the end destination.