DeFi is still more like a failed experiment, 80% of DeFi projects are unreliable, they have weak security and they are more hack friendly, they claim to be decentralized but instead they aren't showing any decentralized motives, the only DeFi projects I trust are not up to five and I choose those DeFi projects because they are more than just DeFi like many new DeFi projects so far, I don't care much about where DeFi is headed, I'm just going to keep picking the good eggs out from the bad eggs, hopeful in future DeFi projects will actually become fully decentralized and more secured
DeFi is not a failed experiment imo. The truth is, DeFi’s the bandwagon right now because of the incredible returns on investment it has so far provided. But many of these are projects that generally have full decision-making powers belonging to developers. Some may not even have completely open-source coding and smart contracts. Others may not even all be fully non-custodial in wallet management. So all together, yes still in an early stage but will definitely change our financial industry.