It seems to me the only reason to not predict an economic downturn is the belief that the economy is unpredictable.

Almost a type of religious belief in the absolute stochasticity of all possible states of the economic system.

"Maybe the gods will favor us and leave a few favorable draws in the urn. Only the gods can know"

who would have though that investing in useless companies that generate 0 revenue was a dangerous business, unless you take a cut in-between of course yc ;)

when will people wake up?

Well, when many of their recently funded companies are in the crypto space, I'd say it's the least they can do, though it might 1. Fall on deaf ears, or 2. Fall on dead ears.