It's not an issue of simply having scams. The issue is that, by its very nature, the ratio of scams to legitimate functional work is likely 1 million to 1, and the entire ecosystem does not only revel in this, but actively encourages even more scam-like behavior. This all stems from blockchain as a concept's decision of baking in valuation to EVERYTHING.

It's the purest distillation of the "greater fool theory" in human history.

I'd rebuke your framing of leaving the morality of it aside. The more valid framing of a debate for new technology should be to prove that there are non scam-like applications of the technology that are superior to currently existing ones.