I think there will be a broad capitulation even if there isn't one for Bitcoin. So many projects raised funds in BTC or ETH and ended up holding big bags. My view of capitulation is more about projects packing up and quitting than investor psychology, though both are tied together somewhat right now. The projects will shut down mostly because they don't have enough funding and they never had enough passion or drive to see their idea through, anyway. Most of them were in it as a "get rich quick" scheme, even if their project had "noble" goals like "saving the world."
For me, capitulation is about separating the pretenders from the builders.
I also don't think UX is the #1 problem; it's at least #2. The number #1 problem is ideas good enough and managed well enough to build in bad times.
The Apple & Google stores are littered with apps that have great UX, but just don't matter.