If that seems crazy, wait until you hear about these companies called Stripe and Visa.
1. Stripe has revenue of $bn 8, Visa $bn 25, and Coinbase $bn 8. Are you suggesting that Coinbase provides as much utility as Stripe?
2. The equity market cap is about $tr 100, so Stripe and Visa together take about 0.03% of that per annum.
Mind you: That is way too much. Credit cards are an inefficient oligopoly, and they've been fined by regulators for their extravagant fees. That's a whole topic in itself. But: Crypto is 10x worse.