This has already happened 3 times, and it will keep happening. The dynamic is more complicated than what you're describing. Crypto isn't a big MLM. Crypto is a

This has already happened 3 times, and it will keep happening. The dynamic is more complicated than what you're describing. Crypto isn't a big MLM. Crypto is a family of technologies that make it possible to easily build MLMs. The analogous thing in traditional MLM is the internet or mail. The difference is that the internet is much more valuable as a technology than crypto. That doesn't mean crypto has 0 value though, it's just that the internet is one of the most valuable things humans have created.