No, Bitcoin valuation is fine! Until some better crypto - which will really solve scalability problem - replaces it. What's not fine is that all or nearly all

No, Bitcoin valuation is fine! Until some better crypto - which will really solve scalability problem - replaces it. What's not fine is that all or nearly all 'entrepreneurial' activity in blockchain space is aimed at pulling money out of pockets of clueless people, presenting it as 'investment', but really gambling. People who are building nearly all projects just know they aren't going to even start building anything, they are just after collecting money. Those limited who do, have no chance because their tokens will inevitably collapse too once this Ponzi scheme explodes, people will just sell every kind of shitcoin when they know it was a scam, and even 'investors' in those who aren't scams, will inevitably lose money too.