That looks like a fad/bubble to me, like when Beanie Babies were going for crazy amounts of money. The interest (and willingness to spend such outrageous sums of money on trivial things) isn't sustainable IMO.
This is kinda how stock investors view crypto - they think it rises too quick and too much, and they see volatility so they say it's not a real investment, no intrinsic value, a bubble, etc. Ofc crypto has actual utility, but pure speculation plays a much bigger role in price discovery right now.
Especially right now I mean last couple months while all skin traders and crypto traders are active and trying to make best out of this lockdown situation.