The community needs to better understand how different growth phases play out and how we expect that to be reflected in the metrics. Here are three examples: Stablecoin crowding out ETH: Crypto adoption would never explode without USD surpassing native crypto volumes. You can't "just" bootstrap a new MoE. It takes decades, if it ever works at all. The fact that ETH volume was ever high was _because_ we are so early, not because we are so successful. Ethereum becoming the rails for the world economy only increases the odds of ETH ever becoming a form of money rather than decreases them. "REV"/MEV: This number you first expect to increase as a chain goes from 0 to 1, and usage increases faster than infrastructure can mature, usually in a hype cycle. But this increase is neither good nor sustainable -- it reflects inefficiency, which the market should and will arbitrage away. Over time, as the infrastructure matures, MEV is reduced to zero, while activity keeps scaling -- the two become decoupled. Finally, fees for DA and blockspace in general. On some level, people understand that both of these are _way_ too expensive today, and we have to make them 100- 1000x cheaper for the world to move on-chain. At the same time, you have these hysterical debates about Ethereum not making enough money from DA. In reality, Ethereum _needs_ to have an even bigger oversupply of capacity for the next 5-10 years, otherwise it is far too risky to build on.