You actually never know how these P2E projects work but what you have seen is the opposite view of these projects.
Very useful technology? Have you ever seen that most of these projects turn into scams? You really miss what happens to them, they are dying after the hype, and their time is over. So we don't have to expect them to rise as it never has the chance.
Might the new sets of P2E projects be reliable as it backup with big companies but as I said, they won't stay long.
Most of the time that unknown part for their future is because you do not know how people react to changes in the market. I mean axie got low because market got low but now that it is low we have people with so much more, and that is a trouble, there is both scarcity in the market, but also there are a lot of people who could unload so much to the market and crash it as well.
No reason to trust your money into something that is technically not money and tied to something. To be fair you can't really buy a cup of coffee with bitcoin all around the world but the logic is there and a few places have that, whereas axie is good for only one thing, which is the game. This is why I still have some doubts that it will ever be good, any p2e I mean. Unless some AAA is made.