I dont think hyteria is out of the market. Another massive mass hysteria will come when instituions come in, because well, they are human as retail investors who got in during the peak. There will be smart institutional money that will get in early and then there will be dumb or unaware institutional money that will get in late, usually pension funds taking exposure indirectly or just smaller institutional fund who are herd followers. There is surely one more hype cycle left i believe.
Yeah for the real winners to come out, it will take time, as the world gets familiar with this technology and also the develops make it more and more user friendly.