That's partially true in short term pump and dumps, but not for anything long term or with innovation. Investing in practical innovation and holding is still the easiest way to make money in crypto.
Most crypto are pump and dumps, but there is also the bizarre practice of a community of bagholders continuing a project after it has already been dumped by the promoters
Not altogether unprecedented though; the suicide cult Heaven's Gate had people stay around to maintain their website, etc. and apparently they still believe the Hale-Bopp comet was some portend of the end of times.
