Dogecoin may be the most rawest form of crypto and to some extent value. 

It took me a really long time to appreciate it and since then I’ve found it continually fascinating to think about what it says about how we organize ourselves and collectively value things.

Regret not minting my thinking from the time

If DOGE would enable a cap to the supply it might be worth buying but constantly being diluted by the emission schedule isn't a gamble worth experimenting with.  The point of crypto was the fixed supply.  DOGE is the Federal Reserve of Memecoins.  Brrrrrr lol

Dilution existing doesn't automatically mean bad, fixed supply also doesn't automatically mean good.

You'll dilute whenever you think the outcome resulting from that dilution leads to more net value.

I don’t think that’s a fair apple to apples comparison.  Paul is referring to new money in for dilution where as DOGE has a fix dilution based on time which creates a negative delta if attention is down.  No new money in and more dilution because of time.

Dilution existing doesn't automatically mean bad, fixed supply also doesn't automatically mean good.

You'll dilute whenever you think the outcome resulting from that dilution leads to more net value.

https://www.paulgraham.com/equity.html