crypto needs to move past the vaporware memecoin meta. Some of the stuff is cool (e.g. higher brand) but most of it is boring, especially to anyone outside of the degen niche.

Agreed

But actually starting to see it as more of an inflection point. The apex of the financial capital games saga is the total democratization of it

Once the financial capital regime wears out, we can enter the rule of production capital (which is more amenable to your taste and mine)

Absolutely -- it's going to get worse before it gets better

yeah good insight, that’s how I’d try to rationalize it it to myself… problem is “wearing out” could equal a further collapse of the space and prices in the medium term