Yup, that's pretty much it.

And you're exactly correct: it is a niche solution to a very specific problem.

And that makes the OP meme wrong and ignorant; an overly broad generalization that fails to educate, instead perpetuating a "crypto bad" mentality projected onto a useful piece of tech.

It's like saying "when do you need nuclear fission? Never" ignoring the fact that nuclear power is the perfect solution for some very specific use cases (like powering rovers on Mars) and a good solution to a few others (large scale terrestrial power generation)