Yep, I agree. This is not an information-asymmetric market anymore, even shitcoins are somehow information-complete submarkets...the only info that lacks is if the project is a plain scam or if the scammy looking shape of the marketing is just a strategy for a long term slow draining of resources from investors to founders. Which is simply an another version of a scam, a more low-time preference one
Discussion
All coins are pyramid schemes, of one type of another, if their supply is capped.
Bitcoin doesn't have a solution to this, but people entering further down might eventually refuse to play.
CBDCs will tap into that resentment, I think.