I highly doubt that the DeFi hype is over, this deep price dive was pretty much inevitable as some DeFi price action was totally ludicrous and irrational, so I would say that this is a buying opportunity, an opportunity to bag HQ projects like Band at a major discount. That being said, I would stay away from obscure DeFi projects for now, they may not survive this current bloodbath.
Its not going to be over soon, it will take months or years or until another hype came to get the attention of the investors.
Anyways if you know a defi project is really good (by conducting an extensive research) then go ahead and take advantage the price dip because its an opportunity to make money out of it.