You know, actually people who held some coins are happy with the bull run but the people who used crypto more as a payment method than holding them are upset because with the pumping we have seen the cost of transaction has significantly gone up and the confirmation timing has also painfully increased form some blockchains like Ethereum and Bitcoin.
This is true, the pump is not cause by real adoption but just due to market manipulation.
If there's a real adoption, it should satisfy the users of the coins for online transaction as that would create the demand, but it's not, the demand was created due to the hype or the FOMO in the market, that's for now and maybe we can say it's alright because we are still in the early stage and institutional money are coming to join the party.