biggest blackpill on eth is that it can be incredibly successful, run the global economy, and still be worth something like $50b total marketcap

Yeah it’s why I think you’ll start seeing projects reconsider their native pairing being $eth. more usdc and maybe some other native kind of currency

Unlikely. Ethereums security comes from the ability to 51% attack the network. 

At $50B it’s easily possible for a nation state to attack the network. Which means it won’t be secure enough to run the global economy.

What makes you think that in that case, the rent seekers who own the network would not maximally extract from users via increased gas fees?

ETH and its price could be abstracted away completely tbh

unless you’re running a node and now with such cheap gas you barely need it, with other assets to pay gas in it’ll be needed even less

just the biggest thing is that most of liquidity is with it