every cycle is a repackaging of an old tech with new "problem solving". memecoin cycle is not too diff from the nfts, defi, ico cycles. memcoins "solved a problem" of launching a token with no budget to hire developers. and no matter what will be the next cycle memecoins either will be renamed or merged into something else. mechanics of launching the token will stay and probably will be even easier. I do like the industry, and with ai it will have a better impact and bring more people in. ai will bring solutions, crypto will fund these solutions through mechanics similar to memecoins
So yeah, degeneracy all the way. but only with automations of trading operations (need to find perfect inputs of data and research communities) + analyzing the blockchain transactions real time. that way you less gamble and have a more systematic approach with understanding if the market is in heat, heating up, dying or dead