All things in a hype cycle have this characteristic but not all this that have this characteristic are a hype cycle. The iPhone is an example. I remember iPads people laughed “it’s a giant phone! So silly!” Etc. To the point made, something can be in a hype cycle because it is obviously useful, but for what we aren’t sure - so there’s a huge creative grasping, and convergence of hucksters and con artists, that boils down into what is the long lasting utility. (Ala microwave)

The thing is the utility is realizes right now by a lot of folks and the only tool folks are using is a crappy web UI onto a chat bot. Crypto had no utility ever, just some crypto anarchist dream of a world without the Treasury. VR is neat but rarely useful.