> they've gotten rich from selling their early-adopter cryptos to the next fool.

And that's where it all falls apart. Crypto-fanatics assume that "good for me" translates to "good for us." As we know, the crypto-rich only exist because others (usually many others) became crypto-broke and/or fiat-broke.

At least, in general, people have no realistic expectation of winning the lottery. You also don't usually have people betting their entire life savings on the lottery. The analogy is only very loosely true.