Interesting point. I’d say it’s worse in some ways as you can’t buy a beer with as it became a volatile asset and constrained by regs as it failed its own tests. But then it’s still better insofar as the tech and community side is ascendant.

In that it is not backed by a commodity, it is fiat.

In that it does not have value by decree, it is not.

It is and isn't fiat simultaneously. It transcends the categorization.

Eth burn is a dynamic sales tax which is low when the ethereum economy is weak and high when the economy is running hot.

The funny thing is, that stable coins are not fiat as they are fully backed money certificates, and most of coins are lol