That's a bit true, however, someone who doesn't want to exchange his ethereum for any other cryptocurrency but needs some stablecoins can use his eth as collateral pending when he returns the stablecoins he borrowed. There's some feasibility, but fact is, defi still has a long way to go, just like cryptocurrency as a whole.
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True, DeFi still making its own first steps.
DeFi has always been there, I'd say it's as early as crypto itself. Just that the lending and asset management part of DeFi is making its first step. Aurgur is one of the earliest eth smart contract, it's defi too.
If you talking about MakerDAO, yes it is not that new. But if you check the volume of DeFi right now, it is totally different than a year ago or so.
Yeah, it's a trend currently, but that's normal in cryptocurrency, we might see the heat cool off soon, just like when privacy coins boomed.