Yeah there is definitely a bit of that gambling rush, for sure.
Of course, it could all come crumbling down and not recover, but at this point I doubt that, at least not in the near future. However, for sure there will be another big correction. We're in a bull market bubble, which is what happens every bull market. What will separate winners from losers is how people react once the bull market ends and we enter another bear market. I don't recommend you hold alts through a bear market. In fact I'd exit everything, even BTC, into Tether, and wait until it reaches the new floor in the middle of the bear market, and re-buy your positions then. You'll end up with a lot more BTC/etc, and the next time it explodes, it will be worth far more than if you had held.
Holding BTC long-term is still, obviously, very profitable. And ETH, too, almost for sure. But holding other alts is a bad move, as they tend to lose FAR more than BTC does. This is particularly true if you starting buying in after the big surge out of the bear market. If past patterns hold, BTC will end up 3-5 times as valuable at the next peak as it is at this current peak. But it also gains about 10x its value from the bear market floor during each peak. So selling at 72k (or whatever the peak ends up being), then re-buying at, say, 20k (I'm guessing, whatever it goes down to), will triple your profits next time, vs if you held it through the deflation period.