Let's go with the LST/re-staking wave. The returns aren't falling from the sky; mostly it's just packaging "security/liquidity/time" and selling it again. You can make a profit, but don't treat it as risk-free interest. To put it simply, the small gains you get might be backed by leverage stacking up, or someone might be using your staking to endorse other services. When something goes wrong on the chain, it triggers a chain reaction: de-pegging, liquidation, smart contract permissions, the timeline of operators running away becomes very dramatic (my professional OCD is acting up again…).

Recently, social mining and fan token schemes that promote "attention as mining" have become popular. I see it somewhat similar to re-staking: turning an invisible thing (attention/security) into finance, then everyone starts competing to pour into it until they find the exit channels aren't smooth enough. As for me: if I can understand where the money is coming from, I try small positions; if I can't, I just treat it as a sample library and don't get too caught up.