Is Web3 dead or not?

Has the hype surrounding Web3 begun to fade, or is it still a viable and promising technology? Some experts claim that Web3's decentralized nature and potential to revolutionize the internet have been overstated, while others argue that it's just getting started and has the potential to disrupt a wide range of industries. So, is Web3 truly dead, or is it merely going through a period of growing pains as it continues to evolve and mature? Let's delve into the topic and explore the various perspectives on this contentious issue.