You're being paid 21.8% to absorb price risk. Only ~21.8% of it is real fees — and they stop covering impermanent loss if USDC-WETH diverges more than ±330%.
Real fee/staking yield: 21.8% · token emissions: 0% of the headline.
Break-even fact: a ±330% move in USDC-WETH erases a full year of the fees you actually keep (~21.8%). 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.