In some ways, you could argue that the Bored Ape stuff was one of the more justifiable uses of NFTs, in that they were, ostensibly "club membership cards". Ie. they were tradable tickets that marked you as a member of the "Bored Ape Yacht Club". Which seems clearly not worth the price of admission, but rich people spending stupid money on irrelevant status markers, including clubs that are all about networking with other rich people by screening out those too poor to afford dues isn't really a new thing, so arguably this is no stupider than a lot of stuff.
However, a lot of the dislike for all this is that uses of NFTs are 99.9% scams - and even if not, are typically cases where the NFTness isn't providing any actual value. Ie. most clubs don't need NFTs to prove membership, just keeping a database of who's paid their dues and is considered a member.
NFTs promise to move that database outside the control of the club - making the database public such that trading tickets, proving membership etc is outside the control of the club. Which sounds like it might have some value, except that recognition of that NFT as denoting membership (ie. using the forums, perks etc of the club) is still under the control of the club: if they decide to refuse to recognise your NFT, there's still nothing you can do (except the same legal remedies you could seek without them). It probably wouldn't do that of course, but only for the same reasons it wouldn't do it without NFTs: it'd destroy the club's ability to attract funds). Which all means that being an NFT doesn't really add much, except perhaps provide tradability that the club doesn't have to be a party to - but that could still be done without needing the complexity of blockchain involvement.
And that's probably the core issue with pretty much all uses of NFTs. There are theoretical cases where such a trustless distributed database of ownership could have value, but for pretty much all actual uses, it's not providing any value whatsoever, and is just a vehicle for scams relying on obscuring that point.
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In some ways, you could argue that the Bored Ape stuff was one of the more justifiable uses of NFTs, in that they were, ostensibly "club membership cards". Ie. they were tradable tickets that marked you as a member of the "Bored Ape Yacht Club". Which seems clearly not worth the price of admission, but rich people spending stupid money on irrelevant status markers, including clubs that are all about networking with other rich people by screening out those too poor to afford dues isn't really a new thing, so arguably this is no stupider than a lot of stuff.
However, a lot of the dislike for all this is that uses of NFTs are 99.9% scams - and even if not, are typically cases where the NFTness isn't providing any actual value. Ie. most clubs don't need NFTs to prove membership, just keeping a database of who's paid their dues and is considered a member.
NFTs promise to move that database outside the control of the club - making the database public such that trading tickets, proving membership etc is outside the control of the club. Which sounds like it might have some value, except that recognition of that NFT as denoting membership (ie. using the forums, perks etc of the club) is still under the control of the club: if they decide to refuse to recognise your NFT, there's still nothing you can do (except the same legal remedies you could seek without them). It probably wouldn't do that of course, but only for the same reasons it wouldn't do it without NFTs: it'd destroy the club's ability to attract funds). Which all means that being an NFT doesn't really add much, except perhaps provide tradability that the club doesn't have to be a party to - but that could still be done without needing the complexity of blockchain involvement.
And that's probably the core issue with pretty much all uses of NFTs. There are theoretical cases where such a trustless distributed database of ownership could have value, but for pretty much all actual uses, it's not providing any value whatsoever, and is just a vehicle for scams relying on obscuring that point.
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