Why did NFTs fail?

Why did NFTs fail to meet the high expectations they initially garnered? I'm puzzled by this turn of events. Despite the hype surrounding them, NFTs seemed poised to revolutionize the art and collectible markets. So, what went wrong? Was it the high prices that kept many potential buyers at bay? Or was it the lack of understanding and education among the general public? Did the technology itself have limitations that prevented widespread adoption? Or were there simply too many scams and fraudulent activities surrounding NFTs? I'm eager to understand the reasons behind their apparent failure and whether there's still potential for them to rebound in the future.