There is a lot of shilling lately (again) with "the flippening" event happening. Ethereum has created a new market which is basically 99% scam tokens, rugpulls, pump and dumps and NFTs which are probably used for money laundering. Anyway, the thing is, there is definitely if a demand for all of that, even if it's all based on a platform that's not decentralized.
So to the point: Would you quit if a centralized shitcoin managed to surpass Bitcoin in marketcap? At that point it would be clear that entire space is a joke. Bitcoin would still march on as usual, but it would be just sad to see people putting their money on shitcoins rather than on the only actually decentralized blockchain worth anything.
It's being used for money laundering definitely.
Those NFTs are useless and there's this NFT of money worth over 30ETHs, I saw it on a streamer's live stream.
What this means is to show that something's worthy and will be useful in the future and people will follow that after some rich people start accepting it, and we know the influence rich have.