> “The fact that investment is being driven by pure hype, by data-free narratives rather than actual revenue data or first-principles analysis. The circularity of it all -- hype drives investment which drives hype which drives investment. The influx of influencer engagement bait.”

Think this cynical. author good to see ads or marketing using hype for clicks. people do stuff to make money on latest trend, just nature.

but me dont know anything productive in web3. it hype through all way. English not me first language. writing use almost feel magic to have chatgpt clean and rewrite my posts. also used for coding examples. dont think this equal to web3. maybe need time to mature to billion dollar scale but me wouldnt bet money against