Why is the market degrading at such a quick pace?

I see numerous projects with seemingly no intrinsic value garnering huge amounts of attention in a short span of time. However, Dex Finance has been around for the past 2 years and was built without any funding. Audited by Certik, etc. They created their own dex , their own ETFs that can include any tokens from projects on that chain, a multichain bridge for the autocompounding vaults, and they support for staking on BNB Chain, Canto, Fantom, Optimism, Arbitrum, and Avalanche, that's about 400+ vaults that can be mixed and matched. It even has its own stable coin, known as USDEX+, and a governance system via gDEX. It will be the first dex for Layer One X, a project that aims to remove all bridges, and has received over $20m in funding so far.

Despite all this, there are barely any users in comparison to shitcoins as an example. At its peak, it was worth around 20m in Total Value Locked (TVL), but now it's around 6.28 million, with the autocompounding vaults' TVL. But this is mostly whale investors.

So my question, that was previously poorly written and got a lot of hate, and also this time I am shilling, if that's how you wanna take it, I only care about discussing about my main question.

Why is the consensus of the market to invest in shitcoins that bring no value whatsoever to the blockchain, but those projects that actually do things and bring inovation are overlooked?

I get it, bear market. But this one for example has been around for 2 years now, gained enough trust, put their own money into building it, based on research, about half a million.

With China moving out the big money out of crypto market we've lost all funding for real stuff, aside for people investing in Bitcoin, that's the one that seems the most real to me at the moment and Stacks ecosystem with sBTC, BRC20, Ordinals and Nakamoto Upgrade.

Context: I've been in the market for past 3 years, never seen it degrade that quick, and not just this market.

​