People assume that markets work and are decentalizing forces. It is true that in theory markets are decentralizing forces but only in theory. In practice we have participants in a market who have much more or better information than the other participants. The market theory does not do a good job accounting for the fact that some participants in the market are "information rich" while other participants are "information poor". The cause of this is information asymmetry.
What is information asymmetry?
In a transaction if one party has more and or better information than another party then it is a situation of information asymmetry. The party with more and or better information can leverage this advantage. Quality information leads to quality decisions and misinformation, disinformation, or just low access to quality information, leads to bad or low quality decisions.
How does information asymmetry influence politics?
Voters may not always be self aware and well informed. In other words there are some voters who are information poor. Information poor voters are voters who do not have good sources of information from which to make high quality decisions. Garbage in garbage out, so when there is disinformation the voter patterns may reflect that. Of course there is a demand for disinformation so the market forces fuel the continued generation of disinformation to sway voters to make decisions which have consequences they are unaware of.
The same applies to buyers who also buy defective products due to information asymmetry and "fake marketing". The same will also apply to tokens and token sales. So of course people might buy tokens based on wicked bad information or simply low quality information without understanding the nature or function of the token if the token has any function at all.
References
Akerlof, G. A. (1970). The market for" lemons": Quality uncertainty and the market mechanism. The quarterly journal of economics, 488-500.