Pi appears overhyped at the moment in my opinion based on research. Its value today is more about hope and community size than real-world application.
You already have the perfect judgment about Pi, and I am not sure why you still have some doubts. Hype is always shortlived when it comes to such coins and we all know most people trying to hype them up are in there for quick profits. Once the bear market sets in, Very many will sell and move on to the next hype. That's what I have observed with crypto markets over the years.
Even much better projects have failed to live up to the hype of the years though they had good use cases such as EOS, NEO etc. Look them up and see for yourself.