One of the more wild things I learned in the past year came from a reasonable explanation for something I have observed for years: why is Venmo vs Cash App so radically split among racial lines? Because, to some order of approximation, they are, and I would bet many people reading this comment can reconcile this with their own experiences.
The explanation as it was described to me (though I have a difficult time verifying its accuracy): Cash App was very early on the "all-in-one banking" experience, whereas Venmo spent years as a value-addition to a bank (account/routing number) you already had. Socioeconomically disenfranchised portions of the population, which statistically bias toward Black Americans, gravitated toward Cash App because they didn't otherwise have bank accounts. Then, network effects kick in, as they always do.
Again, I'm not 100% sure on the veracity of those claims, but it makes sense; and it mirrors a similar trend across age groups. Older people use Zelle (a fully bank-sponsored product). Millennials (of any race), being the middle child, split the difference, and oftentimes have Zelle, Venmo, Cash App, and some Crypto. But all of these "official" apps still have age restrictions, and as they've matured have been forced into more customer risk mitigation, which primarily serves to do the same thing the banking system has statistically done to the black american population for decades; limit access to financial services (even if its for what we old people would call a "totally valid reason" like "dude you're 12", its still limiting access to financial services).
Capital moves mountains. The crypto markets, in aggregate, represent an absolutely massive amount of capital. Its biased young. Its very difficult to legally liquidate into the traditional financial system; but within the crypto ecosystem, its more liquid than any financial instrument ever invented by mankind. It attracts scams (like any financial product does); it attracts idiots (through virtue of being able to serve: anyone); but even among projects like this one, their idiotic understanding of how their actions could integrate with the traditional system of laws is counterbalanced with rather intelligent understanding of distributed financial systems, corporate governance, data structures, algorithms, and most of all, an undeniable love for a piece of cultural history.
Anytime anyone bashes crypto; the reasons may be legitimate; Check your age. You sound a lot like my parents wondering why my Chase account doesn't appear in their Chase home page, so they can send me money every Christmas by just clicking "transfer money". Your criticism may be totally valid and legitimate: but irrelevant. That's the curse of getting older; inescapable, undeniable, and one day you just don't matter anymore. This world isn't your's; it belongs to our Children.