You don’t understand how crypto works it seems

It literally requires every connected wallet to process the same transactions as everyone else

That’s misleading. Your wallet scans blocks for transactions that goes to your wallet, but this is super fast for many cryptocurrencies. Wallets usually sync in seconds.

this is one of the reasons why even the relatively low amount of transactions that Bitcoin processes costs more electricity than a small modern country.

No. The main reason is block size and block emission period. Also, you’re completely forgetting the fact that non Proof Of Work cryptocurrencies exist, and have close to 0 electricity cost

The entire idea behind it is what a third grader might come up with and think it's a great idea. It's not.

If they do they’re pretty much a fucking genius for their age