There's no network effect (outside of Bitcoiners). Censorship worries re/ more popular platforms have diminished since the COVID hysteria. UX is clunky. There are no outside incentives for posting here. People still seem to prefer likes to zaps.

But nevertheless, there are tons of talented developers working on stuff here. There's at least some investments. The very fact that it is a protocol, not a platform is a huge one - if/when interoperability with the rest of the Internet improves and some of those cool things that are very obviously WIP now get polished - and - especially, if there is a big censorship crackdown / data leak or any other black swan within the current mainstream social media landscape - #nostr will surely become a force to be reckoned with. 

IDK. I'm a bit disillusioned as well, but still bullish in the long term. At least, there's no better alternative IMO.