The 2017 ICO hype is somewhat similar with the current DEFI hype/craze. Most new projects now are in DEFI category, old projects are going DEFI and even exchanges list DEFI projects more than they do for other projects just to get more traffic especially now that YFI is successful, all want to add YF or finance to their name. Well, I doubt if it's a bubble that will burst soon because some DEFI projects are doing really great with development, hence we shouldn't generalize all DEFI projects.