You're being paid 17.5% to absorb price risk. Only ~17.5% of it is real fees — and they stop covering impermanent loss if NPC-WETH diverges more than ±260%.
Real fee/staking yield: 17.5% · token emissions: 0% of the headline.
Break-even fact: a ±260% move in NPC-WETH erases a full year of the fees you actually keep (~17.5%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.