getting rich and being able to spend money on whatever they desire, is the exact reason why the blockchain is being held back in the first place

I don't actually see the blockchain being held back, maybe regarding the prices, but in market dynamics people will always be "greedy" and try to do the best moves to achieve a higher return.

But returning to the blockchain being "held back", I think the opposite is true, the blockchain as a technology is growing and getting better every passing day, with new ideas being developed, and current projects being improved and refined. The blockchain is in full force even if the market doesn't show it.

In order to do this, an extremely corruption resistant reputation system must be put into place

I don't know how can something like that be achieved, a lot of corruption and illegal activities are done using crypto currencies.

This reputation system would measure an individual's fiscal responsibility

How could something like that be implemented without violating that individual right to privacy?

Either way, I think it is a matter of time for high prices to return. We all know crypto is very volatile and we are seeing the ugly part of it right now, but nothing last forever and the next bull run should eventually come.

Cheers!