It's not actually over hyped If it wasn't over priced in the first place. Rich people made it more like it's something really valuable in the long term, thus pricing those digital arts called NFT with luxurious price.
Now, what's over hyped is the p2e NFT games that relentlessly coming out in the public everyday. Because people actually loves an active investment where you can dictate yourself how much would you like to earn everyday than buying a digital art hoping for it to increase it's value in the future.