Interesting thoughts! However, I don’t believe that bubbles per se are good. Take for example the tulip bubble during the first half of the 16th century. I am wondering if it has left any cheap infrastructure or innovation behind.

It will probably always depend on the fact if a good/commodity will have any use after a bubble bursts. The enormous attention that BTC has received through the building up of the bubble may have encouraged innovation. If however BTC and cryptos in general will be abandoned after a real burst of the bubble (if there actually is any) all the infrastructure and innovation may arguably be useless.