The 2017 bull run was based on hype that was why shitcoins were able to give more profit because they were cheaper and people bought it based on the huge hype in the market then
But the next bull will be quite different from that and it will be based on real life usage and adoption so any project or altcoin that doesn't offer real usage or solve a problem will beat the dust.
I agree with you and there is no better truth than it. I keep telling my friends that although bull run will take time to come but only projects with good use case or working products will be part of it. No one is interested in investing into any coin with no genuine future it is just too risky and not advisable. Also, although hype will a play role too, but I think it will be caused majorly by use case and mainstream adoption just like you said.