I believe that everything will not stay forever. Defi projects are still getting successful and the recent one is DEGO Finance. They got a huge response from the market. So it is difficult to say the Defi hype is over rather than we can say the success rate is getting down as it will also be dropped accordingly.
Maybe we can say the hype and the FOMO is gone by the success and potential remains as there are some excellent projects in the Defi market which even I am keep an eye on but then there are scams and fake projects too so you just have to make sure that you pick the right one if you are an investor and the DeFi hype is over but there are still some potentially amazing projects coming up and in the making.
It is more like a traditional graph where we can see a huge growth initially but as the market gets matures the graph becomes stable and the success and investment rate is decreased too. One can compare with the iPhones when they come to market they are costly but with time the price drops almost every time for the same mobile, because there is a hype and once it's over the market gets more timid.