There's no need to point out the obvious, but yes, you're right...risk.
Further, getting rich at somebody's expense is business as usual for any asset, be they stocks, housing, metals, anything. It's a false morality to think that this is a behavior that "good" people widely reject. Absolutely everybody in a position to do so, will. Have you ever met a home owner that gives a social discount to his inflated house when selling? I don't think so.
No, see, that's the point I am trying to make and that you are not getting. Housing and the economy as a whole are constructive activities that create value. Crypto is not, as far as I can tell.
When I own a home worth 200K, and 5 years later sell it for 400K, I have 200K in profit. Do explain which "value" was created for that 200K?