Plenty of other things have been the subjects of irrational exuberance that are fundamentally fine. No one is arguing tulips or houses are ipso facto nonsense. $1M for an NFT is more of a symptom of insane/desperate global monetary policy but NFTs per se are fine.
Do stamp collectors qualify?
If they think stamp collecting is a way to get rich quick, sure. But I think passion for the topic is the driver. That and actual scarcity behind the asset, as opposed to Ponzi scheme.