The hype cycle is not applicable to every technology. Some, probably even most, technologies are eventually found to not be useful or valuable, and never recover once the hype bust happens and the technology is forced to compete in the marketplace based wholly on its merits.

Are you saying that crypto (or blockchain) cannot compete based wholly on its merits?

As others have said: what about the stuff that never catches on?

3D TVs AR glasses Luggage that follows you around phones with projectors built in Segway etc

This graph is missing a key aspect: the "it utterly fails and we never speak of it again" section.

I imagine that would be your preferred outcome.

well i'd prefer if it had never gotten to where it is, because every crash in the crypto markets wipes out the savings of some sucker who didn't know better. that sucks.

Because the "Trough of Disillusionment" has already happened 3-4 times...