There are some cryptocurrencies that are at least ostensibly backed by physical assets. I think all securities will likely be cryptos in the future. Imagine how easy the stock market becomes when all stock trades are made through the companies own "coin".

No more shorting, no more shenanigans. Just buying a stock because you like the companies fundamentals and prospects.

But yes, I agree with you. I believe wholeheartedly that all non backed cryptos are a trap. Fiat is as fiat does, no matter how many illuminati pyramids it has or doesn't have.