I wonder if we need a new term rather than bubble for these types of short-term over-invested sectors.

The Tulip mania (if it existed) was a bubble. It popped, it's never coming back. BeanieBabies was a bubble for the same reason. NFT art remains to be seen, but I think it was likely a bubble.

The internet was over-invested and decreased significantly when looking on a timeline of 5-7 years.

But outside of that, if you were to take the valuation of internet companies, it is greater than during the period we call the bubble.

We'll see the same with AI. There will most likely be a drop in valuations when looking at a medium term timescale, but long-term, I expect AI companies will be worth far more than they are today.

When the markets drop on a monthly scale, but then rebound, we don't call that a bubble, so why do we call this sub-decade decline a bubble?

Do you think we should have another term for this?

Same with the housing bubble, yes, it popped and lots of people got hurt, but those who were able to hang-on, I think, ended up ok, and on a moderately decent timeline.