Could well be, but what attracts the masses to this phenomenon? Tulip-bulb-style speculation? Boredom? Many moons ago, I noticed similar crazy happenings with companion pets on World of Warcraft. Maybe people just like to game everything and anything.
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It takes considerable knowledge to buy ETH, make a metamask account and interact with the network. Not your usual user can pull it off.
I don't think that most people would just buy digital pets for tens of thousands.