Basically the market is correcting: price and quality.
Makes sense that an environment devoid of hype and frenzy would be good for legitimate, honest startups.
Making useful product, growing a user base, refining and improving your technology – how old fashioned.
There are still a lot of people who do it the right way, which is why the it is good that the frenzy mentality is over.
It’s normal for a new industries to have Wild West days, crash and burn, and then emerge as stable and sustainable.