We should probably stop talking about crypto like it's a single market

crypto markets with PMF signals

1. Stablecoins
2. Casino (winner: memecoins on solana)
3. Digital gold (winner: BTC)

Everything else that doesn't touch these markets is low PMF & in a bear market

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I disagree, I think there's a wide variety of systems like IPCM that introduce further proof of work, then there are projects like MegaETH that drop the EVM cost to the point where other activity can be discovered.

they just haven't been imposed on attention or received adequate seed funding.