The Hoan Kiem Turtle is considered a "found" cryptid. Quite a fantastic tale goes with it too. But this one find does I believe show the value that Cryptozoology can offer. We now know that only 4 of this kind of Turtle exist in the world, and whilst it may be too late, we can have a crack at saving a species.
I think Cryptozoology has it's place. It is fun and exciting, but some people start trying to make money by inventing mythical creatures, or chasing folklore. When the credulous attain credence, we have a problem. These should be marketed for what they are. Adventure tours, not anything at all to do with science. No Bigfoot will be found, but a lot of people will have some fun in the wilderness.
I am not sure of the Pygmy Elephant has yet been officially classified. Last I heard it was still a bonafide cryptid as well.
Bigfoot, Nessie, Werewolves, Vampires are the cartoons of Cryptozoology. But there is an academic level as well. It's just pretty minuscule in the big picture.
Edited by psyche101, 15 November 2012 - 06:13 AM.