Tricky, there isn't a direct correlation. In 2017 we had the run first, then the ICO hype. One could argue that the run started because of BTC hype, but few would claim that it was altcoin driven.
It seems that this time we're getting hype first, then perhaps a run. I surmise that a bull run may level things out a bit. When the prices of everything start to rise, then the hype should become distributed more evenly and "DeFi" as a buzzword should calm down a bit - at least in relative terms.
My fear is that people dive headlong into DeFi merely because it says "DeFi" on the box, and that they then get hurt. That kind of thing is bad for crypto, it makes the class look overly speculative and unnecessarily volatile.
I guess this is all a part of young growth in the sector, but it's annoying to watch because it doesn't have to happen this way.