Why would retail buy crypto instead of stocks?

Crypto unfortunately has too much competition right now. Stocks are offering better returns with better liquidity. Gold and silver are going up. High yield savings and money markets showing demand. Gambling has gone mainstream and prediction markets are exploding. It used to be crypto was the best place to go to for exciting returns and opportunity. That can and often will change as conditions do but right now it's the colder market and that's the reality. It's not over, it's just in sleep mode waiting until the right narrative emerges that re-opens the flood gates.