Blockchain technology itself is overhyped.
Agree.
The benefit of decentralization is not nearly large enough to outweigh the massive costs.
What does this even mean? How do you determine the value of decentralisation and what's its fair cost? Why do people (miners?) bear those costs then?
Furthermore, blockchain technology necessarily requires cryptocurrency, which is something people seem to overlook or not understand. Without some kind of digital token, there is no way to incentivize miners.
Wrong. You only need tokens for decentralised, trustless, anyone-can-participate blockchains. You can have 'private', tokenless blockchains run by authorised nodes.
Betting on blockchain is the same as betting on crypto, and crypto is even more overhyped than blockchain technology itself.
Blockchain-based cryptos are more overhyped than entire blockchain tech? Isn't it like saying "my legs weight more than my entire body"?