Most of crypto is a fraud perpetrated by "technical" people on non-technical people. The mathematics may be legit. (I don't really know. I am not a PhD. Neither are most of you.) But the use cases are demonstrably not legit and driven by speculative greed and social proof.
The second worst aspect of this is that many of these technical people have convinced themselves of the legitimacy of the crypto industry and can credibly claim to have good motivations. They are, for the most, victims of self-delusion and confirmation bias.
The worst aspect of this is that a generation of impressionable citizen investors is being trained to speculate on intrinsically worthless "assets" in the mistaken belief that they are participating in some social or technical revolution. They are not.
It's likely that some crypto-based nationalized "fiat" stablecoins emerge. This will convince the crypto crowd that they were right and did no harm. But that's widely held illusion will still be wrong.
NFTs are effectively an intellectual capitulation: an admission that the only use case for crypto anyone can come up with is speculation.
What does "trained to speculate on intrinsically worthless assets" mean? Here's an example I noticed today: a VC declaring that "all startups are Ponzi schemes." That is false. It is also a kind of dangerous moral nihilism. Everything is immoral and so my immorality is excusable.
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