Did the Metaverse hype come at the wrong time?

We all know that everything is down and not going well in the meantime and Metaverse projects and Meme coins that I am aware of, suffered the most losses in May. Because metaverse projects are still relatively new, it appears that the hype for meta projects is occurring at an inconvenient time, such as when NFTs and P2Es boomed. Yuga labs experienced this because after they dropped the Otherside Metaverse, the price dropped significantly after a week last month. Some people in third-world countries even used it as their primary source of income, but the bear market is making everyone shit their pants right now. Even the $20k support was recently broken, and ETH fell below $1000 for the first time since 2021.
Decentralized metaverse projects took advantage of the popularity of Play-to-Earn as well as the hype surrounding virtual worlds to create their digital realms prior to the announcements of tech titans in this field. Decentraland, in fact, is a pioneer in this space, having opened its metaverse to the public in February 2020. Another popular solution, Sandbox, debuted its first multiplayer alpha season in November 2021. A lot of great Metaverse projects are incoming as well with great features like Kirin’s open-source platform that will provide Learn to earn, Play to earn, etc, that are made for gamers and devs, and Star Atlas’s graphics and gaming experience. But sadly, the popularity of Metaverses just increased much more recently than P2Es.
But the question is, will the bear market have a massive effect on the development of great Metaverse projects? At this rate, I realized many altcoins will probably not make it, on the other hand, the bear market serves an even more important function in the crypto industry: they are when the greatest and most successful projects are built. Which Metaverse projects do you think will survive?