The underlying tech is clever though; the speculation is just a side-effect of cryptocurrency systems that they attract a lot of people who attempt to make a quick buck from during the rapid growth phase.
As others have pointed out, this is not a bad thing b/c speculation is one legitimate way that cryptocurrencies can bootstrap themselves, even if (over time) their strengths are not likely to result in more speculative behavior than is found in other established currencies.
The outrageous investment in Ethereum/DAO does seem to highlight a desire for governance models outside of the corporatist status quo we live under today, though. Personally, I don't think it's bonkers to yearn for something better. But it's a hope that needs to be tempered with vigilance if people are going to avoid being duped.
What does surprise me is that people poured the equivalent of tens of millions of dollars into this new, unproven thing. To me, this says that while Ethereum itself may be technologically fine, the community is completely bonkers.