To me, a project's "hype-ness" is the ratio of how much attention it gets over how useful it actually is to users.

As a browser, Ladybird usefulness is currently quite limited for obvious reasons. This is not meant to dismiss its achievements, nor to overlook the fact that building a truly useful browser for everyday users is something few open source teams can accomplish without the backing of a billion dollar company. Still, in its present state, its practical utility remains limited.