I've spoken to people (and I'm sure you have too as you speak to more people in a day than I do in weeks) who simply can't understand why anyone would risk blowing money on crypto because it's unsecured and if something goes wrong you're stuffed with no recourse whatsoever to do anything at all.
But when governments bail banks out (but not their customers) and superannuation funds can go belly up severely decreasing and in some cases completely destroying people's retirement funds, oh well that happens sometimes can't be helped? o_O
It's all a game and this one is kind of fun so far XD
People have a weird conflict, as they think that the supported traditional vehicles are more fair....
Better the devil you know and all that crap? :D
Loss aversion is part of it too I guess - people don't understand the potential gain, but concentrate on the chance of loss - without realizing that perhaps the biggest risk to their assets is staying in the same place