Be suspicious of any projects that just decide to implement DeFi all of a sudden when DeFi wasn't implemented in the project's features from the beginning, this is nothing but a way to take advantage of DeFi Hypes going on nowadays, if you are a deep crypto fan like myself you should be seeing few old projects that aren't DeFi from birth and start talking about implementing DeFi feature, I'm 100% against this act as it's unclean and dangerous
Although we should be careful around all this defi craze but if a project is legit and you are confident about it then there is no harm in using this trend as this will benefit the investors and community as well and for this if the project modifies or adds new products it will also be good for the project in the long run.
Yes, there are always some risks in investments, even for a good and true defi project. If you're indecisive in making investment especially when there is a craze for a certain type of project, you will miss a lot of opportunities. Just make sure you understand all risks before investing.