Hype is useful, without crypto hype, bitcoin would not be popular, remember 2017, bitcoin got its ATH because of hype.
I'm ok with the hype as long as these projects can back it up with usable platform and potential for profit for investors, every coin gets hype, it will take some time to see the real colors of these DeFi if they live up to expectations but I have seen some of their features and I believe they can recover I hope I'm right.
There's still a lot of projects now that are a product of ICO, hence we can't say that hype is no good, otherwise they will not raise a good amount to fund the project, some of the projects we are seeing that are coming from ICO are Ethereum, Binance, and Tron coin, these are real platforms which already made their investors profitable, so as long as we are careful, we can see how this hypes would benefit the market.
Of course, when investing, we have to consider that not everyone will be profitable, some will lose while some will make money.