Very nice article. Some thoughts:

“When given a hammer, every problem looks like a nail.”

I think the most obvious result of this mechanism is that many projects use blockchain on something, that does not need blockchain and even worse does not benefit from blockchain. There is either a trust problem or a decentralization problem to be solved. One example: Why do you need a crypto coin to pay fees for a centralized exchange? So this problem is very popular and it nails down what it means if you hammer on everything with the concept of turning it into a blockchain.

Also one might consider that Charlie Munger and Warren Buffett are investors that stay away from new technology. Sure they did not invest in the big fails of the dotcom bubble like eToys.com or pets.com, but they also missed the boat on Amazon, Ebay, Apple etc. The reason for that is that they say, they will not invest in new technology, because they only invest in things they do understand. That is fine, but then it should not be relevant if they say crypto is pointless or not. But since you only use their insights to differ between crypto projects and not see the technology itself as useless, everything is fine :-)