Most (all?) 401k plans limit you to a pre-picked list of ETFs and mutual funds you can invest in. Not to mention the standard advice for decades has been 'broad market index fund'.
Their conclusion: It might be bad, but so be it. No need to change strategy.
It being in the public markets is something you can deal with if you want.
It being in private markets means you cannot choose to participate in the upside if you want.
A lot of people have been using it to passively invest in AI (via QQQ).
It’s nonsensical for a variety of reasons but we live an era of the stock market just being another casino…