They give people the feeling of being "cool, rich, smart, part of an exclusive club" with the click of a button while they sit on their couch doing nothing of importance.
Yes, this space which could not have been invented to better harbor get rich quick schemes, tax evasion, money laundering, and high volatility speculation during the biggest bull market ever -- a space which quickly converts attention into dollars in the age of social media influencers -- is definitely mostly popular because of the revolutionary tech, and "im cool im part of something" motivations. Definitely.