As for depin, i'm not so sure, future is pretty uncertain but there are great depin project out there, it's just that the new project are mostly just feels pretty weak.
On the other hand, the RWA sector is blooming, most of people don't even realize they're using RWA like t-bill and bond backed stablecoins.
It's looking pretty bright with the future of RWA sector, with giants like blackrock actively pushing the growth and other institutional as well.
I understand your point about DePins but i think they have potential. Though i’ve also seen a few that lack solid value but with a few strong ones coming into the picture, the narrative might change and i think NodeOps might be one of them.
Also, the RWA sector is definitely proving its value and long term potential because just like you mentioned, many haven’t realized yet, that they’re using it daily. Meanwhile, some still have their doubts about RWAs without realizing it has been subtly brought into everyday crypto use.