are you trying to tell me that the world’s second largest economy banning cryptocurrency had no real impact on demand for cryptocurrency?

I wasn't referring to the demand for units of cryptocurrency on particular networks. I was referring to actual industry, i.e. the companies that are researching, improving, and selling the technology itself.

the industry is a result of the demand

Well, China's ban didn't negatively affect global demand enough that any relevant companies closed up shop. Just reporting to you what happened.

Most of these blockchain R&D companies (and their investors) are still in the bootstrapping phase anyways. They're looking ahead 3+ years before they expect their product to go parabolic, so the actions of one or two governments in the mean time is just noise.

if I wasn’t already convinced that crypto is a bad investment, I am now

I honestly don’t see how that follows from what I said. I would be curious to hear your reasoning.

Unless you mistakenly thought that the crypto industry has been built on solid foundational end-user demand for products this whole time.