The latter. Or both: there isn't really a distinction between blockchain and scams. On the merits, blockchains are inarguably a regression on the status quo; philosophically, they solve problems that don't exist in reality. (Censorship is a non-issue.) They exist for one reason only: to provide a faster vehicle for money seeking return. Prior to blockchains, a 100M fund would have to wait ca. 10 years for a ROI; now, due to lack of regulation and etc. etc., you can get a return in 12 to 18 months. That's it. That's all there is.