I think we are soon to see more reasons to shun cryptocurrencies. You are right. Not good. Remember the people who solicited donations for Tea Party causes (they are still) and syphoned some or all for personal use? Temptation is there, it will happen.
Do yourself a favor. Take some spare change and buy some Bitcoin. If it goes to zero you will at least know you were right and you did not miss out but if you are wrong and I think you are, you will be glad you did.
Do you know how to buy Bitcoin?