@polynya: crypto industry has normalized gambling over building products

A post by @polynya argues that the crypto industry has moved from building products to gambling, and that this shift has become institutionalized and normalized, with even the biggest players deep in it. The author uses "gambling" in a broad sense and says similar behavior is visible in AI stocks and gold. The post states that gambling's total addressable market is 1,000 times larger than building actual products in the short to medium term, and it says the few sustainable products are better than ever. It adds that the author respects those who are clear they just want to extract value.