How has Defi impacted the crypto industry?

How profoundly has Decentralized Finance, or Defi, revolutionized the cryptocurrency industry? Has it ushered in a new era of financial inclusion and accessibility, making services like lending, borrowing, and trading more democratic and accessible to all? Or has it merely added another layer of complexity to an already volatile and confusing market? Furthermore, what implications has this trend had on traditional financial institutions, who are now faced with competition from a decentralized, borderless ecosystem? Has Defi truly disrupted the financial landscape, or is it merely a niche phenomenon within the broader crypto sphere?