I think the shoeshine boy moment might be here with bitcoin and crypto, thanks to things like the Super Bowl ads, so that strategy you stated is much riskier than it was in the past, and potential returns lower. Pumping doesn't work well when the flow of new investors ebbs.
Eventually a lot of the "investors" may need to take out money out of bitcoin into fiat to pay for necessities, especially if a recession hits.
The issue is that people don't need or want to buy crypto except for speculation(other than some temporary crypto purchases for ransomware, drugs, money laundering etc.) to flip it.
I'm not putting much skin in this game, but I'd be a fool not to hedge my bets and stake some versus blind myself on principle and sit on the sidelines. Betting what you don't mind losing is always a winning strategy; things can only go up with that outlook.
I think you're underselling the difficulty of this problem by the adverbial just.