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The embarrassment of L2 comes from the misjudgment of the Eth Foundation about the explosion of crypto apps in the last cycle. To this day they still haven't fully woken up to the delusion of duplicating the wheel of building internet apps on the chain. Most applications don't need to be on-chain, only applications in domains where efficiency is severely shackled by centralized processes in the traditional world, and where there are extremely high trust or rent-seeking costs.
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