Ordinals was the illusion of spraying graffiti on the base chain (putting NFTs on Bitcoin). Now it's mainly a way to mint shitcoins on Bitcoin (blatant pump and dump schemes). A conspiracy theory is that this is a state sponsored attack. That's probably not the case, but it does reveal a vulnerability that could be exploited much more aggressively by state actors in the future (only mining blocks full of spam).

Many hope that these grifters run out of money (they already spent 200 million USD). Others hope they will be priced out in the next bull run as they do pay quite some btc fees. A minority thinks we should actively discourage the spam by updating certain mempool policies in Core, making a clear statement that Bitcoin is not designed for such arbitrary data storage.

Sadly, many bitcoiners don't even consider this spam yet.