Really? Can you point to any hype from the last, say, 5 years that even hints at thinly spread mining or ownership? Individuals were mining on their PC in its first couple of years, but that ended long ago.
The hype is all about how it’s distributed and nobody controls it, when in practice it’s not much different from conventional money except that those with power are even more hidden.
Its distributedness is still worth something even if only a small number of people control most of it. If they go rogue or get stopped by the government, others can take over. That's quite unlike any centralized system.