It seems you don't realize that ETH products like USDC are redeemed 1:1 with their fiat counterpart USD through regulated banks. Again, your view is demonstrably wrong, as products "inside" the system have value outside the system.

Unfortunately your view seems to be the majority in HN. Quite disappointing from a supposedly forward thinking community. I'll be hearing the lazy beanie babies or tulips comparison for the next decade.