I'd agree with that - it's the late to market speculators, only interested in making a quick dollar, who know nothing of the fundamentals of crypto's who usually get burned. I've had a couple of friends telling me how they were making hundreds of dollars day trading cryptos a few weeks ago, when I asked them what blockchain is, or how distributed ledger works was they had absolutely no idea. One of them had never even heard of blockchain, yet he was gambling on etherium, bitcoin, litecoin, ripple and others. Idiots. Yes, you state it quite correctly.
By the way I've not spoken to these friends for a while, I wonder how their speculative trades are doing now?? They will be the first to complain when they lose everything and they won't be blaming themselves. More likely they will blame the likes me for criticising and talking the market down, when in reality I just have a more conservative and long term view of blockchain.