you're right, a project or memecoin with a community can easily outperform Bitcoin in the bull market.
It's a combination of two things: narrative and community.. narrative that's created by the project and than ran by the community all over social media. I've seen dogwifhat and others are doing good just because of it.
Yes, there's now an evolution. Community, marketing and hype is what some projects now do. I even feel like this is what's mostly needed for most projects to actually do well. Running after BTC and it's gains won't cut it for small investors
yea, that's all matter other than the utility or narrative like "this project is Ai, this is RWA".