Yes, trusting grifters to play by the rules. In crypto the most important risk is counterparty risk.
But it all break down in exchanges where you just own a balance on an account, rather than actual cryptocurrency secured by your private keys as they are meant to be owned.
Nostr is using it intensively for "zapping" micropayments in BTC to others. Anyways, plenty other coins exist too without high fees, and plenty of people use DEX'es where they remain firmly in control of their money with their own wallets.