This is not a valid comparison. BTC has a cap and LUNA can be minted. In fact if anything the LUNA collapse is just a demo of what money printing gets you and how people with capital leverage off-market lending to take (steal) assets for a lower price.

Yes, this is correct insofar as this is in fact how maximalists think of it. No genuine maximalist is pressed about yet another dip in the BTC value, and the term 'shitcoin' is broadly applied to LUNAesque creations, the feeling in that community being that the proper value is in fact zero.

My take tends to be that the cryptocurrency market is undervalued, and that 99%+ of all blockchains/tokenthings/whatever which exist are properly valued at zero.

The difference between that and BTC/ETH maximalism is those camps are convinced they know where the value will land, and I'm agnostic on that question.