So it has nothing to do with the user.
I do not think anyone is thinking of that. When a project fails, you do not blame the
"consumers" for its failure. It is like if the quality of a product is bad and you decide to blame the consumers for it going bankrupt. The users are only receiving what is given to them. They are not really in control of anything in the project but themselves.
It's probably that they are looking to blame someone for the failure. And it's very easy, as we only have few entities involved, investors, developers and maybe those pump and dump groups. Nevertheless, as the market mature, it sure be the blame is for the people behind the project.
I mean if it is really good then there is a good chance that we might invest on them. But if the project is just there for the pump and dump, then it won't attract as it's obvious that it doesn't have a use case and it's just there to make money for the developers or could be used for manipulations.