I can understand why it might seem that bitcoin is a fraud, but there is no unfair advantage that earlier investors have over more recent investors, except perhaps exposure and understanding (where I agree most with this article).

What I wonder is how advisors will be incentivized to push allocations to their clients? The rapid growth of ETFs suggests there is an underserved gap, but having kept my eye on the asset for some time, I don't believe the more recent investors appropriately appreciate the drawdown risks.