BUT now that other chains have gained material market share, THEY now become the easiest pickings to bleed market share from as new (and old) high throughput chains’ value propositions compete more directly with them than with Ethereum, which has decided to make a completely different set of tradeoffs at L1

this allows Ethereum to focus on being a category of one with ETH at its center as programmable money, providing liquidity and security for apps on L1 and a growing universe of L2s

while everyone else fights it out to the death.