"Irrational fear" seems mostly to be created by those who have most to lose.
National governments, banks and traditional stock traders (to name a few) hate the loss of control that comes with cryptos.
Fiat currency is one method of manipulating the wealth (and lives) of ordinary citizens.
Cryptocurrency is the beginning of the democratisation of money. Governments and big business are not in favour of democracy, for obvious reasons. Any social change that promotes true democracy is a good thing.
My primary motive for holding crypto is the promotion of democracy - making a few coins profit makes life a bit more interesting but it's not the main goal.