The majority of people watching the price constantly are just trying to get rich quick. Thinking that Bitcoin is some kind of clever scam and if they time their entry and exit correctly, they'll win (more fiat).

They just need time to learn and understand what money & Bitcoin is. And many do. It can take months of years but it eventually clicks. I read many regrets over the time, hell I joined to get rich, realising later that this is the beginning of a peaceful revolution (to separate money & state) and getting (fiat) rich is just a byproduct of being an early adopter.

The dollar price is a good indicator of adoption. Except of the one or two years after halvings because that's mostly speculation. Which on the other hand, creates a massive campaign, pushing the adoption up.

No one completely understands bitcoin.

But, yes. People constantly watching the price are at the lower end of the spectrum

i think it's common for people to come into the space and watch the price because that's their indicator of how valuable Bitcoin is. as you spend more time learning about the problems it fixes, your concept of its value changes to move away from price in USD, and you stop watching the price because it doesn't matter.