[fragmede]

> But I don't believe those added any real value (they may have generated profits for their makers, but I think that was a zero- or negative-sum trade).

Okay, so some people are making money with it, but no true value was added, eh?

[lmm]

Do new scams create value? No, even though they make money for some people. The same with speculative ventures that don't pan out. You can only say something's added value when it's been positive sum overall, not just allowed some people to take a profit at the expense of others.