At this point? Yes, it’s pretty much just grifters and gullible people falling for them. For early adopters of crypto, not necessarily. A lot of random tech nerds got rich just investing a few dollars into bitcoin. I put 200€ into Ethereum back in highschool and while it didn’t make me rich, it did turn into a few thousand at least. These days I stay as far away as possible from anything related to crypto though.