Agreed. Most cryptos will fail. But there won't be world wars or a great depression because of it.
On the positive side, there will be winners. Projects that think outside the box, like, maybe, Siacoin or Decentraland or DENT. Also projects targeted at the unbanked.
Think about Humaniq bringing biometric ID and banking to the billions. The wrong people are drooling over this idea for the wrong reasons -- then again, what the controllers have pushed for in the past has become our current system. So there will be winners.