RE: When is a new token Justified?

Within the context of gaming:
Most games, even blockchain games, do not need a native token. Why? Because they are all inherently centralized to begin with. Why create some random token on the blockchain when you can just issue in-game assets like "gold" inside the game itself? The "gold" in the game is already the currency. You don't need another currency on top of that. What's needed is a liquidity pool from "gold" to Bitcoin (or a native token that the game is built on like HBD).

Not a single entity in the entire world has even attempted to create an actually decentralized RPG on a blockchain, and for very good reason. That's a highly complex and potentially wastefully inefficient endeavor. Again maybe we are just "still early" and the tech simply just does not exist yet, but the current advantages and disadvantages of decentralization speak for themselves at this point. You only want as much decentralization as you absolutely need to mitigate corruption from seeping into the product. Any more than that is woefully inefficient and littered with diminishing returns.

I agree, it is a losing endeavor. You can have one exploit, one bug etc. and your economy is now irrevocably damaged. In a centralized system, you can wish away resources gained through such exploits and minimize the impact. You also attract "players" that are just there to farm the game rather than play. Though they also exists in traditional games as well, the tokenization makes their job much much easier.

What's needed is a liquidity pool from "gold" to Bitcoin (or a native token that the game is built on like HBD).

I think you don't even need this, what you need is a reward system that will reward the player for playing the game rather than cashing out resources.