it’s quite simple: you guys created way too much blockspace

Just because Beanie Babies crashed in value, doesn’t mean stuffed animals weren’t going to be important.

The bigger problem IMO is too much of today's blockspace is artificially subsidized by VC dollars. Investors are hoping to trap users in their corner of blockspace so they can begin their extraction cycle, but I doubt it's going to work.

It's just going to lead to massive state loss, instability, destruction of value.

Tokens should be decentralised at launch, no lockups, a pool to be bought by the public, making their own decisions about the future. Ethereum was a good example.