You are absolutely correct, we are still in a speculative phase and I don't see that changing anytime soon, people still get excited about ICOs launching on Binance launchpad, much like last year where people used to buy in just because some big influencers said so. Bittorrent was bought by Tron for $120 million last year and today just its token value stands at around $800 million if we consider the total supply and compare it to current price of BTT tokens, there are many such examples.