Crypto does indeed not generate wealth. What people hope for is a kind of wealth transfer from fiat to cryptocurrency. This hope is not unwarranted given the fact that fiat is - under certain circumstances - clumsy (especially in digital situations) and cryptocurrency has certain other unique features.

The most unique feature, decentralised trust backed by math, will remain a core driver of the rise of cryptocurrency. This can only become stronger when crisis in fiat starts in earnest.