In my personal opinion - sure it is.
An academic looking ‘white-parer’ , a web site and a smart contract with only few hundred lines of code (mostly copy/pasted) will get many users coming - for the promise of big returns.
It is pretty easy even for a beginner programmer to create crypto-tokens.
The creator of the token has control over the total supply and can easily simulate demand.
As long is the in-flow of value (coming a liquidity which want to get interest) outnumbers the outflow (wanting to cash out) the DeFi will keep attracting users.