But "play to earn games" are pyramid schemes. This is an unavoidable implication of the fact that players are "earning" without creating or building anything that anyone else wants to buy.

Explained here: https://medium.com/coinmonks/axie-infinity-a-developing-worlds-messiah-or-the-biggest-ponzi-scheme-in-crypto-right-now-564ecfb62054

I was shocked to learn that a16z has invested $150M in literally a pyramid scheme.