That was a description of a financial scam where people who come first get paid with the money of those who come later. The cryptoworld behaved like that since 2015 and till the end of 2017. But that doesn't take anything from the benefits and advantages that crypto offers beyond this speculation paradigm. Now we are entering the phase where there will be less speculation and more real use simply because crypto is a real thing in and of itself. It is not about "investors" who won't dump their coins because of FUD or whatever as it is not about investors at all. Do dollars have value because you can speculate with them or because you have investors as in buy low, sell high? Absolutely not!