You are making some great points here. Good example for a comparable market was the German „New Market“ Stock Exchange. At that time a company creating a game to shoot at birds (Moorhuhn) was valued at a crazy level. Obviously next to many other concepts. Some people earned massive amounts of money, others lost their houses when the market finally died.
Crypto is comparable, there are some valuable Tokens and Coins that aim to create real value, such as EOS, TRON, RIPPLE or STEEM, those will be the stars for a long time. Others like Dodge are just like the Moorhuhn Game company, once people loose interest they will be dead sooner than you can transfer them from your wallet.
It is a risk to invest in Crypto but honestly, Tesla is also a risk. To a large extent you are investing in an idea.
I recall asking a financial advisor years ago if I should buy Google shares at 15$ after IPO, he said it was overvalued at that time. EOS and TRON could be the next Goolgle, or the next BING or YAHOO only time will tell.
I am working as a consultant in retail and I can tell you that Blockchain as a technology stack is going to to change a lot. Already large shops are working based on distributed Applications, Blockchain is the next evolution of this.
Ok like Bitcoin when it was trading at $10. It Seemed kind of high at the time.
The first time I was thinking about entry was at 1.000 $ but waited until it was at 20.000 $ you know the rest of the story. Traded heavily against the market with alts and some days ago I reached break even. But not owning too much BTC any more.
Maybe I'll be sorry if i don't buy but I really do not like the agreement in the EOS ICO.