The money has to come from somewhere
The money made on these shares has to come from somewhere. In order to sell your shares, there has to be someone willing to buy them. If someone is buying them at the peak price, then they are the ones that are going to lose the money when it comes crashing down. In order for one person to make big money on this, there needs to be lots of people who are going to be losing their savings.
The hedge funds may end up losing money, but the people jumping on the bandwagon due to hype are the ones that are going to be hurt the most.