Is it really impossible for the crypto industry to build anything long-term? Not at all. Long-term projects targeting the mainstream market include BTC, stablecoins, and prediction markets. For crypto natives, there are long-term projects like major CEXs, AAVE, Uniswap, HyperLiquid, Pendle, Ethena, Kaito, and more. However, developing crypto applications for new financial consumers is indeed different from creating traditional Web2 applications for regular consumers. It requires developers (DEVs) to not only focus on product development but also have the ability to manage financial market cycle risks and rapidly engineer new narratives. For most DEVs who have spent years immersed in code blocks and product prototypes, these requirements are honestly a bit beyond their skill set. And this isn’t something that can be solved just by bringing in one or two team members with crypto-native or financial backgrounds. Moreover, the crypto industry, without visible "big hand" interventions, exhibits a significant Matthew Effect. Each niche track can at most accommodate one or two leading projects. Once the market landscape is decided, projects beyond the top two (G2) have no choice but to cut losses and exit.