Looks like some people have issues with L2s FDV.

Just because some L2s are around 10b FDV or whatever it doesn't mean they will stay there and it doesn't mean every other L2 will get close. Currently L2s are fighting for the same population, I repeat... the same, and very few of them (besides Base) will onboard new users.

This should be obviously bearish for nearly all L2s, their tokens/dapps and so on (there's nothing bullish about more L2s if the demand doesn't exist). That said, the key factor for success there is organic and sustainable/continuous demand (just like we see on Ethereum), nothing else.