Central banks don't create or distribute wealth, they distribute tokens that wealth-creators (ie. workers and property owners) are willing to trade for wealth. That willingness is largely based on tradition and convenience, not authority.

If authority were required to give tokens value then no crypto would ever have gotten off the ground.

You are correct that as crypto has acquired more value that central bankers have tried to crush it in various ways, so far nothing has worked though. And it's unlikely anything will.