There is nothing inherently scammy in using a distributed blockchain to record balances, and cryptography to authenticate updates to the balances. While opening the door to financial contracts to every one in the world with a computing device may make scam offerings more common, it's overly simplistic and lazy to resort to a caricature of crypto tokens being, as a rule, scams.
The vast majority of crypto projects in top 100 by market cap are not like UST/LUNA. The demand for them comes from speculation about future utility, but there is no unsustainable market-beating yield to entice people to deposit new money.