I think there is certainly food for thought here, though in any global phenomenon, you can find groups to point at who seem to be 'pushing' the prophecy.
Personally, I think crypto is simply suffering the arc of celebrity. Crypto markets have been built almost 100% on hype, and nearly every crypto launched after Bitcoin opened with a price that was WAY above its actual value to people.
Crypto's value as a currency will always, IMO, be very limited, because it relies on so much infrastructure to be in place (and working) to even be usable. No internet? No crypto transactions. No electricity? No crypto transactions. No computer? No crypto.
These are just the three major systems needed to access crypto, each of those relies on other systems...
I think crypto's biggest problem is, and always will be, the house of cards that it's built on. Once the hype money dries up, the people looking at it clearly are naturally going to be reluctant.