Web3 makes a lot of sense to me. The people that got into Bitcoin early are now out and ridiculously rich. Other people also wanted to get rich, but that exact opportunity feels like it passed (still holding out for my $80 invested in Bitcoin to be worth >$100,000, but I got in kind of late), so people started making their own coins in the hopes of repeating the process. That had mixed success, Etherium (and maybe Dogecoin) did pretty well, but most didn't. The SEC even started cracking down on ICOs.

So, there is a legitimate need for some new business model where you print money and keep most of it for yourself. Web3! I guarantee you someone will get rich from it. That means it worked.

(I'm being a little tongue-in-cheek here. I get the actual idea for cryptocurrency and even NFTs if I squint a little bit, I just think that the hype is from people that think they're going to get rich without doing any actual work. It does happen, but at the end of the day, doing actual work is probably going to be more profitable on average. You're probably too late to the game if you start now intending to be a Web3 trillionaire, anyway. The hype is to get you to buy some of the money you're printing with money that can actually be used to buy mansions. So they can buy some mansions.)