The best word I can think of to describe this bull market is— perplexing. I agree with @dbooster that meme coins have diverted the attention and capital away from alts. The SEC's obtuse/predatory regs didn't do the alt market any favors either. I think many of the new investors that have entered the market have little interest in the cypherpunk ideals and just want to make a quick buck. I hope the thread of that cypherpunk narrative can be picked up again and revived. It might take some financial hard times like the 2008 Housing Crisis to create a new crop of rebels.
That's definitely a bit disheartening. I wish I have been able to get in like one cycle sooner... As much as I love the ideals, the money is still nice too :)
I think the beliefs surrounding the utility of the alts was what drove them higher. Nano (raiblocks) was a great example of that. We might get back there, especially if enough people get burned by leveraged trades and meme coins.
I wouldn't be sad to see that happen even though I hold some alts. I'm also hoping maybe the RWA thing really takes hold.