This year, there have already been a bunch of projects shutting down. Those that haven't been announced are probably still holding on stubbornly.

Just looking at the thriving ecosystems and chains on Defillama, it's incredibly prosperous; but there are also quite a few projects with no revenue or operating at a loss. Although there's no conscience to earn more, many places really have no one willing to pay 🤠.
AI is quite hot. Last year, A16Z and Base invested in Yupp, and today they surprisingly announced failure.
Side note: Recently, Nous Research has been pretty impressive...