And so is fiat. There's nothing you can do with 1, 10, 100 million USD if nobody is willing to exchange goods for it, but I don't see you call this a scam. Humans appear to be satisfied with money, even if they can't intrinsically utilize it.

If the "greater fool" gains censorship-resistance, pseudo-anonymity, minimum costs, nearly-instant speed of transaction confirmation across the world, zero-cost divided possession of property and an established monetary policy with a scheduled inflation, he might not be a fool.