When DeFi came first it was called the future, similarly when ICOs came first people though ICOs to be the future of raising money.
But the point remained same, all these are hype-machined money grab methods devised in a manner to lure the weak hands to put in their money without any legal consequences and then lose that money to the ones running these schemes.
Now that a social media renamed itself, there is a huge buzz around metaverse, but people have only been juggling its meaning from one to another only to fit their own gains and peddle their own shit.
To me, it is just another hype. I will continue buying bitcoin and turn a blind eye to these coins.
Defi is not just hyped, lots of people as i understand are using the decentralized finance platform to lend, borrow and do other stuff related to it, so i wouldn't consider them as hype only, same thing with ico, a lot of good project were born out of ico which are among top 10 in cmc, that most dev no longer raise funds through ico doesn't mean it didn't serve the purpose as at then, btc was once considered a hype and just a bubble that will burst anytime, nobody know what will happen in future,
i believe some metervase projects where already in the market before facebook made their announcement, the point is, there is always a beginning, it is true not all of this different trend will succeed but it is possible some of them will make it and be around as long as people uses this services.