This is tremendously bullish, showing the first signs of true broad adoption and how far cryptocurrency has come that we can even experience such euphoria in the midst of a bad market.
How is this a sign of mass adoption if the address growth only spikes during the peaks of a bull run, and then returns to normal? The chart shows that the grows rate goes up quite slowly, while the term "mass adoption" could imply exponential growth.
If anything, it's even a bit depressing that the spike of 2017 bull run is bigger than that of 2021 - not what you would expect from 4 years of mass adoption.