Many tech companies are both unprofitable and contribute near 0 value to society. Not unique to crypto. Be careful what you wish for, or the only people left paying software engineers might be non technical companies who pay $80k a year.
If we kill off that group of people earning 300k+ in unproductive businesses, all the better. I'd prefer that money be invested in more productive tech, and i'd suppose would generally raise salaries -- since atm, ex hypoth., it is just being burnt
However, just as ponzi in fiance was culturally and legally pushed out --- i'd imagine it will now in tech.
I suspect regulation and cultural scepticism will arise which secures the next two or three decades against this, 'as a rule'