Most of my time in web3 has been dedicated to NFTs, and I absolutely love the technology. This has truly been the closest thing I've seen to the .COM bubble since it popped. The internet is better now than it was then, so I'm not worried about NFTs.
The "U" in FUD is the killer for me. Uncertainty drives the others. Much of it comes from teams that know more about the blockchain than they do about running a business, lol.
You hit some key points. This is great analysis, and it is laid out well. Good stuff!