It seemed like a bunch of hype from the beginning to me. I looked up the specs of my old Motorola phone from 2017 back when 5G was a new topic, and the 4G LTE modem in that old phone is capable of 600Mb data speeds. But no 4G LTE connection ever gave me much more than 40-50Mb on speed tests.
5G rolled out and I have a 5G phone (not because it's 5G but because it's my new phone) and whenever I do a speed test, the results are no better than 4G LTE. But there was a trade-off for the "upgrade" to 5G - the cell towers for 5G have much less range than the 4G ones do. So not only do I receive no improvement in speed but the towers' range is downgraded.