Perceptually, it seems like coinbase over the years has become primarily an ethereum-centric company over bitcoin.

Why is this? I feel like I see a lot more initiatives toward eth l2s, wallets, ens, etc. than bitcoin-related products. Is this simply bc there's less surface area to build on? or it's less profitable?

What would a bitcoin centric company even look like? Not much to do there it seems

Block is the most bitcoin-centric company I can think of off the top of my head (obv bc Jack is a big believer in it). I think there's still a lot that can be done, for ex they're doing some interesting work with Lightning & hardware wallets, as well as continuing to push on payments & efficient mining