How Bitcoin, Regardless of the tech, is a Scam

I found this video interesting for its approachability (my parents would understand it) but also for the final third that considers why Bitcoin or crypto in general would generate such a fervent, cultish following.

Now the source is clearly left-biased (its essentially a channel made to directly counter PragerU) but with that caveat this video saliently put to words a sort of nebulous unease I've had with crypto.

The biggest evidence for this is the amount of liquidity in exchanges which is often less than 5% across the board. This means if everyone tries to cash in, only 5% will be able to recoup everything.

Of course, the price will go down as people cash in but I guarantee some individuals/organizations have 5% of many cryptos and Satoshi (whoever she/he/they are) currently has almost that much Bitcoin.

The title above is not the same as that of the video on Youtube: "Why Bitcoin Is A Scam". In contrast to the HN title above, I saw only a brief mention of the technology. All the arguments were aimed directly at Bitcoin and Bitcoin-adjacent ideology.