It may be, but way too volatile, much more than people's actual desired risk profiles.
So they have unrealistic expectations where a few people end up winning and way too many end up holding the empty bag.
Statistically, that's not an investment, that's a scheme.
I have made a lot of money with crypto. There is nothing wrong with it, if you understand what you are doing.
People hoarding resources and abusing information asymmetry will always exist, either in the form of crypto pump and dumps, or ellaborate scams like collateralized debt obligations and subprime mortgages and fractional reserve banking and stuff.
Everything is a scam, inflation is legalized theft and just like casinos make their biggest profits from casual players/tourists that do not know how to play, every form of financial transaction takes advantage of people that do not know the rules or the optimal strategy.
This is cute. Do you have a winning strategy at blackjack too?