Yes but folks who put their money into Crypto are gonna lose it all, so keeping your buying power over decades is actually a great success when it comes to an investment.
The verdict is out on that. Yes, they could lose much of it. But that's not a fact at this point. You state it with conviction. But you don't know if that will happen.
To develop a decentralized, permissionless asset is not a worthless effort. It takes time and energy to build the network effects that Bitcoin and Ethereum and other blockchains achieved. Bitcoin, Ethereum, and others did not skip a beat during the recent financial turmoil. Transactions were processed, and the system functioned.
The people that bought into them or build them will be the ones that decide if they go to zero. I personally would hold my cryptos to zero if needed. So if I don't sell then it can't truly go to zero. And I am not the only one that thinks this way. Yes, the asset can be volatile. But can it really go to zero at this point, barring the physical destruction of the Earth and humanity? Even Terra Luna and FTX's token did not go to zero.