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You're spot on. Regarding your last point though my interpretation of the blockchain hype was that the problem of the business was that they needed quick and easy money. Blockchain investors solved that.

Whether you perceive the problem as one worth solving or not, Bitcoin defined a very specific, if extreme, problem it wanted to solve, and proposed an extreme solution to that extreme problem. There's a few other projects (such as Ethereum) that are also trying to solve some very specific problems.

The issue is that the problems that Bitcoin and Ethereum are trying to solve imply almost generating money from thin air. That gave unscrupulous people a lot of silly ideas, on the one hand, and, on the other, gave the people desperate to prove they're "thought leaders" (whatever that means) a lot of different, but still silly, ideas.

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