The argument is 'The only use case it is good for is fraud. Fraud dwarfs all the other use cases.'
Shares in a ponzi scheme aren't worthless, but the only use case for running one is fraud.
Crypto acolytes constantly point fingers at crypto 'usecases' that nobody actually uses, and constantly gloss over that the only popular usecases are robbing people and getting robbed[1].
[1] Plus a small cottage industry of making and selling guns and ski masks to the robbers. That would be the 'This rugpull was audited by <some crypto audit firm>' line item in those posts.
Shares in a ponzi scheme aren't worthless, but the only use case for running one is fraud.
Crypto acolytes constantly point fingers at crypto 'usecases' that nobody actually uses, and constantly gloss over that the only popular usecases are robbing people and getting robbed[1].
[1] Plus a small cottage industry of making and selling guns and ski masks to the robbers. That would be the 'This rugpull was audited by <some crypto audit firm>' line item in those posts.