The whole point of crypto was to be decentralized. For one company to go down and cause the industry to implode means the industry is on the wrong path and needs to be reset.
But there are tens of millions of new people (or even more) since the MtGox collapse in 2014 who haven't learned the lesson and ,,chasing yields'' or lending against their crypto tokens / leveraging their positions (the new forms of financializing BTC, aka not holding your own keys).
I personally know somebody who lost all his BTC / ETH by lending against it and buying more when BTC price was over $50k.
Arguably this has already started happening.