When people talks about diversity in crypto space they only point at big projects and small projects combined but no one ever talk about their life savings, I've seen people putting all they have into crypto and yes they have more than 5 coins in their portfolio but is this the smartest move?
How sure you are that others don't involve their life savings while doing investment diversification?
Obviously, since you are in the crypto space, they will never mention that they also have personal savings and you will mostly read is crypto-related investments. Why should they tell that and in the first place as it's a common investment already that we need?
There might be others that putting all their money into crypto but what if they are properly managing it along the way?
He already said that he seen people do it, so let's just stick with it. Plus he didn't specifically said that he saw it here in forum, he might seen their portfolio personally, or his friends does that, then just make a thread in here.
Though I might say, that what they're doing might be a smarter move as we are already sure that the diversification you are talking about is only the assets they have minus the essentials they needed for daily lives. If they are gaining income, then its their smart move, if not, then the latter one. But the recent adjustments of crypto prices shows that they made the right move.