> I compare it to the dot com bubble.

I don't see the similarity. Yes, the stocks were overpriced, and people who didn't understand venture capital were effectively providing venture capital. But the dot com era produced some major corporations: Google, Amazon, eBay, Netflix, and many more. Those companies have real economic value because they create products that people want to pay for.

Web3 hasn't produced anything comparable. The space is now polluted enough that I doubt it will.