[Vetch]

You're completely correct that over-exuberance, gambles and scams are playing a large role in the amount of money flowing. It is unclear whether the current level of openness compared to the usually highly elitist gate kept artworld will persist.

There is nonetheless a clear mapping to physical art world collections in terms of owning a rare work by a skilled artist and having it connected to some trusted proof representing a unique transaction with that artist.

[JohnFen]

I don't see that mapping at all. If you own a rare work by a skilled artist, you are in possession of a unique physical item. If you own an NFT, you are not. All you "own" is proof that you paid some money to someone.