For a technology invented over 10 years ago it does seem a solution looking for a problem. Ambitious white papers and press releases don't matter if your tech doesn't do anything.
Blockchain too often seems a single, excessively complicated, technical approach to solving a particular type of problem, and really shouldn’t be on the radar of people who don’t build systems themselves. Non-developers should restrict themselves to getting excited about actual real world problems getting solved rather than how they might be solved! As it happens, real world problems are usually solvable using simpler and cheaper methods. A trusted central authority works just fine for most if not all situations. There are ways of adding tamper resistance without going full blockchain.
Read MITSloan Management Review "Before jumping on the bandwagon, companies need to carefully consider how ledger technologies fit into their overall strategy."
But many question whether or not blockchain tech actually serves a purpose. Often, blockchain seems like a buzzword that tech startups add to their pitch decks in order to attract investments. Selection Bias Of course, 43 individual startups do not represent the entire blockchain industry. It’s possible that MERL Tech, which likely acted in good faith, happened to investigate some bad apples or select shadier companies. Ultimately, take this as a warning to do your due diligence before buying into a new blockchain company’s bold claims. It’s worth checking how far your money will actually go.