Maybe, you're holding to those DeFi projects which are in DeFi space before starting the hype of it and it's best to participate only those. Like what you said, is the reality of DeFi market and more users are getting into those projects because of fomo and nothing else. Eventually, the hype of DeFi will downtrend and every hyped projects will become shit one. It's just about time, IMHO.
Yes,,, it is really right now impossible to distinguish good projects from bad because literally every token is again exploding in value,,, regardless of just how useful they are WITHOUT marketing partnerships and promotions. FOMO like you said and we are back in the good/bad old days of ICO in 2017.