For something to be overhyped, it must have a hype level disproportionate to its value. Deep learning is generating a huge amount of real value and is solving real problems. When we were getting Superbowl ads for crypto, the value proposition wasn't there.
Sometimes it was fraud, other times it was just money-losing economics ("traction") where VCs would prop it up and then hoped to dump the stock on an eager public in an IPO before making a dollar in profit (SoftBank took this to the extreme). Other times it just led to monopolies that sucked up everyone's data, engaged in surveillance capitalism, distracted them at dinner and made everyone have the attention of a goldfish. Oh yeah and made them depressed and insecure, especially teenagers.
I'm not sure that's much better than Web3.