That may be a fair criticism of the naming. My point was more that it doesn't make sense to be called cryptocurrency, and less that it's the true next progress

That may be a fair criticism of the naming. My point was more that it doesn't make sense to be called cryptocurrency, and less that it's the true next progression of the web. With regards to the cash outs, I think there's probably an argument to be made about web 1.0 and 2.0 companies that were highly unprofitable with no way to ever become profitable. There were investors propping up companies with bad fundamentals, IPO'ing, cashing out, and in the end the tech bubble pops and takes down the market and retail investors with it. Crypto definitely does it more quickly and violently, but it's not a crypto specific phenomenon.