Blockworks' takes on Ethereum make sense if Ethereum were a brand new alt-L1 that signed up for crypto-native MBA consulting or advisory services, to try and capture market share in a crowded market Things make much more sense in this context This ignores or discounts all the things that make Ethereum special and unique, and imo is blind to the larger possible TAMs that crypto unlocks via optimizing for decentralization and credible neutrality The market value of a design architecture that maps to a crypto-native ethos is not be taught in MBA textbooks(David Hoffman)