The energy consumption issue is silly. It's like saying that Google won't be successful because they consume so much energy. It's not a major issue, it's just a silly talking point for those who oppose or don't understand cryptocurrencies.

Also, there is no such popular narrative. Your argument is like saying, "so we're supposed to buy stocks until we're all rich, that's a scam". Everyone makes their own investment decisions based on the available information. Brushing off good investment opportunities as a pump scheme is not very wise.