Indeed, it's not the first time that a private blockchain partisan has attempted to tar all of "public" blockchain/crypto as a lawless amoral cesspool. R3 made similar claims in years past. In truth, there's been equal or more FUD thrown at private by public zealots too. But it's not confidence-inspiring to see this kind of tribalism, and it speaks to a conflict of interest (at least in R3's case, who were signalling to governments that "private is safer").
The broad brush is FUD. There are any number of crypto efforts that are not fraudulent. Grin and zcash come to mind. Ethereum itself is hardly a criminal effort. The claim that this technology has not advanced the field is simply laughable. Sure, there's a lot of technobabble and money being raised around nothing, what else is new.
Anybody in the fintech industry pointing fingers at crypto need to take a look in the mirror. Crypto is a tiny speck compared to the modern financial system. That's not to excuse fraud and shady stuff, but companies servicing hedge funds, private equity and megabanks have zero moral ground from which to point fingers.