ICO never came back, IEO is not trending anymore do you think that metaverse won't vanish in near future? It's like every trending crypto hype will fade away sooner or later and new thing will come around again, are we just going around in circles?.
You're absolutely right.
All of these are just iterations of previous hype/bubbles.
I certainly don't think that it's worth your while to chase these new trends. NFT offerings are nothing more than ICOs just in a different form, and IEOs/IGOs are the exact same as well. Fancy catchphrase and no real work put into it. Invest in quality projects and don't let the names fool you.