Do you think cryptos have become one more instrument for the rich to take our money?

With the recent rugs pulls, and the generally unbridled speculation surrounding cryptos in the last year or so, I started having doubts about this whole thing.

At the beginning it seemed that Cryptocurrencies could be a place where even us poors could compete with the rich and make a lot of money. Now it looks like it has become another instrument for them to transfer money from the middle class to the upper class. This recent events aren't the natural ebb and flow of the market, but a deliberate attack to bankrupt small investors and newbies.

Do you think the crypto space will be different in a few years? Will it be an upper class only space? Where do the small fish go in this pond? Are we all gonna get eaten alive by sharks?

EDIT: Thanks to everybody who is commenting their opinions and experiences! I'd like to point out that I did not make this post to "complain" as some are implying. I never believed in any get rich quick schemes, nor have I made any extreme gambles. I'd just like to hear some more experienced opinion on the sociological implications of this new market.

Also, great discussion in the comments!