More directly, they don't care about the crash, because some of them either can profit from the crash or more generally are incentivized to think they should extract all value right up to the point of crashing and not a second less, because that is leaving money on the table

I see it as an extension of the tragedy of commons, no individual wants to destroy the finite resource, but everyone exploiting it to exhaustion always will

A crash is the result of collective behavior (greed). Individual behavior is driven by incentives.