Blockchain gaming — is it all hype?

I see lots of projects but nothing really seems to work or be necessary, for that matter…

• IMX is a good idea but I don't fully get why other Ethereum L2's like Polygon can't do the job.
• Games like Illuvium have been in the making for at least 2 years with nothing but fancy trailers that have nothing to do with the real gameplay.
• YGG is a popular token in some circles but I can't wrap my head around the need for this token/project.

All in all it looks like this niche is still only promises with nothing of value. I would think that the most promising path forward would be to 'tokenize' existing top games instead of making new ones. For this I don't think one would need dedicated blockchains like IMX. However it appears that most projects are actually about new games, all of which I've seen pretty bad.

Any thoughts? I look forward to a fruitful discussion on this niche.