It's really attempt 2.0 and some sprinkles of "you may get rich" on the steam market with a hugely more inefficient system, which you can't even showcase in game to your friends. All the while the gas fees causing a constant drain on any transaction.
Try looking how many pages you need click through before you emerge from the minimum $0.03. The market for digital "art" is a hard one, because scarcity can only centrally be enforced.
https://steamcommunity.com/market/search?appid=730#p1_price_...
Now you can buy to maybe sell for a higher price in the future. That should increase engagement and the user base. It is still a very particular behavior that only a small fraction of society engages in.
But there is 6.6Bn smartphone users in this world. If a tiny 0.1% of the population buys/sells NFT for fun and addition, that's still 6.6 million user. That's billions of $$ pumped into the NFT economy and dozens of billions of "value" for these digital items.
The world is crazy once you go from the local scale to the global scale.