They should've been called TMAs - Throwing Money Away. If you can't trust the system that processes it, the durability of it, the exchanges, or it lacking any intrinsic liquidation value, then it's TMA.
It is for sure. If the price matched "an old dresser" I would probably buy it too. If that old dresser costs $12k because it was made during the great depression then I will let someone else buy it.