[topaz0]

Worth noting that the essay acknowledges that there are ways that people use this stuff and actually like it. Saying it's a scam is about those uses being orders of magnitude less valuable than the companies involved (and credulous media) claim, and even orders of magnitude less than the amount of money that they are actively investing in this stuff. Saying it's a bubble is not a claim that it will go away entirely and never be seen again, it's a claim that reality will eventually manifest and result in massive upheaval as companies go bankrupt, valuations plummet, and associated downstream effects.