This sounds like Napoleon Dynamite type of reasoning

Me, as a kid: “the emperor’s new clothes is nonsense, nobody would go along with something that obviously wrong”

Me, after watching people sell no-hope dotcoms, dubious real estate, and cryptocurrency: “… unless they thought they could cash out before the other fools wised up”

They were talking about stuff like Celsius. I don't think FTX was itself offering yield-farming products, just letting people trade those tokens. "Yeah, the stuff people trade on my platform are probably Ponzis" is definitely not great publicity, but it's not obviously admitting to your own crimes.