Yes, people to think about bitcoin as a ponzi, and they don't really tend to understand what bitcoin is.. and I still see no reason to get worked up at the term investment, especially since a lot of people also don't know how to use the term investment in relation to bitcoin because they may well be thinking about their "investment" into bitcoin as a means to get short-term profits in dollars, which is probably more like trading and gambling than investing, so in that regard they are considering bitcoin differently and don't really understand long term investing, even though technically they are still investing, but just not in the sense that many longer term bitcoiners understand the term investing when it comes to bitcoin.
That's a very nice clarification @JayJuanGee because not everybody that thinks or believe that they are actually investing on Bitcoin is true because there is no way we can classify investment on Bitcoin for a long term and those that invest with a short-term profits making, however funny enough most of them have the mindset that weather short-term or long term that they are all investment without knowing that there is a big difference from the two, although i wouldn't blame them because they have no knowledge about what Bitcoin investment is all about, perhaps just like you mentioned is only those who have been into Bitcoin investment earlier will actually understand what type of investment should be regarded as a true investment.
There are probably some folks who come to bitcoin and seem to understand it right away.. yet they are still fairly long and far between those kinds of folks.
Even Michael Saylor, who seemed to have been a quick study when he came to bitcoin in mid-2020 (even though there was some evidence of his commenting negatively about bitcoin in 2013 or 2014), and understood bitcoin pretty damned well (even better than a lot of bitcoin long-timers), he has had his learning journey that has been more honed by his participation in bitcoin, and it is ONLY going to be this year that Saylor will be coming upon one whole cycle of his being involved in BTC investing.