If it was all hype, presidents like Xi would not endorse its power publicly. Only few governments side with crypto while the majority accept that the blockchain tech behind crypto is extra-ordinary and worth the hype.
The idea behind it is what makes it special. The chain of blocks protected by hash pointers, to me, is brilliant in protecting and locking data into it which is almost inpossible alter.
Though I'm not gonna lie, since Bitcoin has become popular, the term blockchain has been used as a hype scheme to attract investors and possibly scam them, which makes the image of blockchain a medium of hype in some instances.