Indeed, and it runs great on this old machine. I recently made the switch to Wayland from X11 wms like spectrwm and herbstluftwm. The difference is like that old movie, "The Wizard of OZ", where everything goes from being in B&W, to suddenly technocolor. ;-P
In my experience, it has great defaults and is quite easy to configure. There were a couple things that annoyed me so ill be waiting a bit to use it over sway, but all in all its ready to daily drive, and its very pretty
I agree........Hyprland is pretty damn good out of the box. Add how easy it is to configure and customize, it's only a matter of time before it truly takes off, and gains more traction :-)
Easier than I thought it was going to be, but I had a ton of experience with various window managers under Xorg. The difference comes in swapping out certain tools for their wayland counterparts. Example using wofi or fuzzel, instead of rofi, imv, instead of feh, grim, instead of scrot, swaybg or hyprpaper, instead of nitrogen, mako, instead of dunst. The alternatives are there, you just have to make the necessary small adjustments.
If you want to try Hyprland check out this guy's video and config files. You can get a working and usable setup very easily.
It's a different mindset in switching to tiling window managers. I spent a good amount of time with herbstluftwm and bspwm under Xorg, and after awhile, things started to gel. Being someone who likes to tinker with my system, it allowed me to break away from the big, heavy desktops, and create something that works for my workflow.
If you want to try you also can use hyprland as a stacking window compositor it is really clean. The one thing I would say is clunky is the configuration around hyprland xdg-desktop-portals are just a mess