Of course, but the bottom line is this. "Spreadsheet entries" in the form of Dollar or Euro are created for the borrowing of goods and services from the general population and returning them back later. On the other hand, "spreadsheet entries" in the form of Bitcoin and Crypto are created for extracting goods and services from the general population without returning them back later. And that's the difference between a legitimate business and a scam.
If you are referring to the circular flow of income -- that applies to Bitcoin as well, not just fiat currencies.
You can get paid in Bitcoin for goods and services and you can in turn use Bitcoin to pay for goods and services yourself. You can buy mining hardware using Bitcoin, pay your electricty bill using bitcoins you mined and spend the remaining bitcoins on Pizzas or whatever else you need. Granted, there's friction with the classical banking system (ie. when converting to fiat) but if you stay within a closed circuit of crypto it's rather frictionless, especially globally speaking (anyone who ever sent money abroad will know, as well as anyone who ever ran a small online business with international customers).