I think BTC get up to 170k in this cycle, and that's like 64k$ left to go. Most alts still has x50 to do, and that's the difference. Buying at this top is certainly a way to lose money, but then most newbies who will flood into the market will very soon will do.
I know because myself I bought my splinterlands asset at the top because of FOMO and look how that turned out for me. It's just like you've said, people will lose money buying at the top
We've all been there before, Splinterlands did the same to me as well!
There are cycles for learning, that's why I think almost everyone in crypto will make these decisions