Plenty of other things have been the subjects of irrational exuberance that are fundamentally fine. No one is arguing tulips or houses are ipso facto nonsense.

Plenty of other things have been the subjects of irrational exuberance that are fundamentally fine. No one is arguing tulips or houses are ipso facto nonsense. $1M for an NFT is more of a symptom of insane/desperate global monetary policy but NFTs per se are fine.