But is it a future means of payment, or is a speculative asset? If it’s the former, then its value/price needs to start to stabilize so that the cost of things doesn’t swing so wildly.

And also, I know anecdote isn’t data, but I highly doubt that the vast numbers of people buying crypto are buying it because they foresee a future in which they will pay for things with it as a paper money replacement. I’m pretty sure most people are gambling that their purchase will get them rich one day. You just can’t have that system and a money replacement at the same time, in the same way that you can’t have people buying U.S. dollars in hopes that they’ll appreciate in value and make them rich.