. . . the rich told you to hate it so that they can horde it themselves . . .

No, that's completely wrong. They don't need to tell people to hate it just to hoard it. If they wanted to hoard it, they could just pay for datacenters to be built and use it for themselves while technically losing money.

Their problem is that none of this stuff is making money at the same rate that they're putting money in. There's orders of magnitude difference between the two. It's all burning off in power costs. The whole thing will shut down on its own, because investors still want to see money coming in exceed money going out.

So yes, this is the dumbest take.