We are equivocally in the late 90s during the pre stages of the dot com boom. In the end, there were a lot of bullshit companies and scammers that made money quickly, but the market did implode. Many people lost money and their jobs.
Did we lose the internet, though? Obviously not, the strong solid internet based companies survived and grew. Amazon is just one example. And ultimately, an online presence is now required for virtually all businesses.
My belief is something similar will happen with crypto. You have to invest intelligently and see the big picture, but also be honest with yourself and not get caught up in the hype. I chose to put my money into Monero because I believe in what the coin stands for, plus we are a good community of intelligent and level headed people. The weekly skepticism thread alone is one of the best things about us as a group: we are willing to be self critical and adapt.
Crypto isn’t going away. It is too useful for the masses and too dangerous to ignore for governments. Does it have problems? Yeah, every fledgling industry has problems. Did we give up on the car, electricity, medicine, or any other major field, because at first these areas were niche and rudimentary? No. The key is to manage your expectations and keep it honest.