DeFi 1.0 - Is There a Recession?

On the topic of DeFi I think I would say it feels again like sentiment on DeFi isn't super high right now. It doesn't feel like there's been a huge amount of innovation or organic usage outside of these huge liquidity incentives. So probably it will become this like mini not naming names but like a zombie protocols with just huge treasure is trying to come up with something but ultimately just dying. If this bear market continues and if the market continues would be to see some consolidation space as well. How do you feel about AMMs versus central limit order book exchanges? My opinion didn't really change for the last couple of years but basically I still think it's kind of a dead end