The physicality of the underlying asset does matter though. Soybeans in and of themselves have some fundamental value (food, feed) the same way oil does (fuel, plastics, etc).
There is no underlying value in having answers to a random cryptographic problem attested to you.
Soybeans (and most other assets) have inherent value which gives them a price minimum, but not necessarily a price maximum. Crypto has no price minimum (0 I guess, at which point returns are incalculable) and no price maximum because it has no inherent value.
My entire point is that crypto is a unique asset class, so I think it’s here to stay as long as there are people willing to speculate.
There is no underlying value in having answers to a random cryptographic problem attested to you.