A project that has been hyped can no longer be expected to keep on hyped for a long time but only it stays for just a while and losses its popularity.
I admit that I'm investing in a few NFTs during their peak period but never I think to hold them and sell them in a few weeks. Thinking about investing them today is gonna be worthless, we can't assure ROI but possibly it becoming shitcoins. I just recall what happen to ICO before, they seem too hot but in the years coming, they lose their value and become rejected. This can possibly happen to NFT.
Bitcoin, ETH and other top altcoins have been on this phase. They sure lost their charm after some time but at least they haven't died permanently. They are still here and they are still shining whenever the bull run comes. I only want to say that it's not about the hype but it's about how valuable the project is. Not all NFT's are the same. Some are just plain images but some have a good use case. We only need to check them properly if they are worth to invest for the long term or not.
We cant compare ICO to them because both are just different. ICO is only a term for funding a project. They are gone replaced by a much better and safer way to fund a project but it doesn't mean that there are no more low quality and scam projects.