It's shitcoinery, and like you, everyone should treat THAT as a form of "entertainment". That's the main purpose, but if you "win", then that's merely the side-dish. The main-course is merely the entertainment you get from participating.
Plebs should be careful though, and never use more than 1% of your total Bitcoin, and if you think 1% of your total Bitcoin is "too small", then don't gamble. HODL.
I want to agree with you on the fact that shitcoin investment should be treated as a form of entertainment/ fun because I have not been seeing guys wining from shitcoin investment lately, while the rate of shitcoin losers keep increasing just as it is in gambling. And Yes, i would rather stick to my bitcoin investment than to gamble with it, because the 1% of bitcoin we think is too small can double 3% to 4% or even more in the long run. Which is why I would rather hold the 1% of my bitcoin to double instead of gambling with it, as I don't know it's potential in the future.
Notice the difference between the thinking of ordinary people and millionaires. Let's say you have $1,000 worth of Bitcoin. 1% profit means only $10. Many people think that this $10 is not much, and if you use it to invest in shitcoins in the name of "fun", you may lose 100%. But if Bitcoin increases by 10% or more in a month, then your $1,000 will become $1,100 or more. In other words, if you HODL patiently, you can get more than 1% - without risk. But if you think about millionaires, they think this way - I have $1 million worth of Bitcoin, 1% of it means $10,000. If I HODL $10,000 and Bitcoin increases 3x or 4x, then I can get $30,000–$40,000 from this 1% without risk. Therefore, it is wise to hold on to it for the future, rather than gambling in the name of entertainment.