I mean NFTs fit that bill perfectly. Incentives for the late comers are to buy continually more dubious tokens that are produced by the initial round of creator

I mean NFTs fit that bill perfectly. Incentives for the late comers are to buy continually more dubious tokens that are produced by the initial round of creators. Those buyers then create a new market of lower tier creators who create even more valueless creations, and so the cycle continues. Crypto without NFTs have no creators and instead relies on the network effect of public interest to raise the value of their initial purchase. In this way, it's more akin to inventing a product and selling it on to another person and promising them that it will be worth more if they do the same.