We are in bearish market, NFTs are not alone being affected in this season. Its not yet over for these projects but lets face the fact that the hype in NFTs were not the same as before. Those who have utilities can survive, otherwise it will be hard to recover. Just like the past hype (ICO for example) the popularity will fade and another trend will replace them. Some investors also prefer to take risk and ride on the current hype to earn quick. Thus its not surprising if NFTs are not what it used to be at this point.
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NFT has become something even hated by the crypto community, not just normal people. There is no point in NFT anymore when everyone just wants to sell their NFT to the higher bid. All the cool and rare stuff NFT were just empty promises to hype up the gullible people to dump it. I think this is better so we don't have a ticking bomb that bubbles up the crypto, making situation worse in the future.