Have you read the "sapiens" book? There is a good narrative in that book in that: religion, money and legal institutions are just fictions.

So I guess the question with tokens is : can we make up new fictions?

I think we can.

If you insist on "there is a reason why Regulator exist" , well I think it's not that reason you think it is.

The point is yes there is scam , see posts above. But yes there is also opportunity to find people who share similar ideas and values and express their common goals using tokens.

Does that make sense?