It does kind of feel like cryptocurrency is sort of a collective Dunning-Kruger syndrome of programmers and finance.

Programmers see all this bureaucratic regulatory red tape and decide to try and make something more efficient by removing it and claim that they've saved finance by reinventing it.

Then one by one, they start seeing why each of these regulations exist; the regulations didn't exist to keep the little person down, it was to protect against scams. And then they suddenly want regulation on their funny money, at which point cryptocurrency just kind of becomes a worse version of real currency.