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Interesting, not what I remember from 2017. To which hardware startups are you referring?
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One example of the peak of that craziness was in 2016, after Snapchat released glasses with an embedded camera, which were more or less received as as a gimmick by their user base, Snapchat changed their name to Snap Inc and told their investors that they're now a hardware company.
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Well that was the peak of the kickstarter era, tons of wearables and new projects. You know, like Pebble
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Or the Nixie [1] (actually nixie was earlier, but went out of business in 2017)

[1] https://en.wikipedia.org/wiki/Nixie_Labs_Nixie

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