A certain personality type as attracted people to Crypto. These are people that for the majority, have never started a legitimate company. There's a false positive of competence launching or supporting an unregistered security. They feel like they're founders or investors worthy of being considered as such.

This is apparent if you've started a company before. Just registering a company to legally issue shares is something they've not done. Doing actual customer development to see if there is product market fit is something they've not done. Assuming that because something is on a blockchain makes it a company is an assumption that has not gone through a basic question of, "Does this solve a problem and who will use it?".

I'm not against innovation but I am against people that consistently and confidently thrust themselves into the arena of Bitcoin or a legitimate company.