Blockchain is a substitute good for a person who cannot lie, cheat, or steal without getting caught red-handed. The inelasticity of demand for this good will be influenced by the stability of the protocol, the amount/value of data stored on chain (or other metric which tracks actual utilization of the chain), and the adoption/enforcement of laws.

After the casino is shut down, a handful of the most inelastic projects operating within the laws will survive.

Is your favorite crypto one of a handful, out of the 10,000 that will survive?