It looks that way and it is partly true but mostly because those people who are so vocal on social media (like what you said about people Reddit) are those who are mostly interested in price (BTC as investment) and are trying to increase the hype so their investment grows in value.
On the other hand those who seek financial sovereignty through bitcoin (BTC as currency) aren't really participating in social media expressing their opinion every day so they go unnoticed.
There is also the fact that during bull markets we see more investors coming in rather than others.

The other problem with this statement is that we have no statistics to prove it or reject it. The payment processors like BitPay (even though they don't represent the whole used as currency thing) stopped publishing their detailed stats but still what they do release shows a growth in bitcoin usage as a currency.