When you make a coin unworkable as p2p cash, you open the door to creating a fake valuation...

A widely used medium of exchange will have robust price discovery through the real world.

If something is made to be unsuitable as a wide medium of exchange but twisted into a supposed "store of value" buoyed by speculation on centralized exchanges, then it's price is not nearly as robust as a global form of cash would be, and is subject to much easier manipulation.

When you can fake a high market price in this way, then you do attract some "FOMO" and make money selling your token to some who have been fooled by this high price. This starts a train of fools who believe they ought to be able to pass this token off onto others for a high price. It can be somewhat self sustaining (as seen by BTC over the last few years), but still a fragile house of cards.

This is not why I got into Bitcoin.

I'm here for the peer to peer electronic cash that is usable without intermediaries , as p2p money. Real decentralization.

Thankfully Bitcoin Cash is keeping that Internet Money alive.