this take feels wrong to me, nothing inherently differentiates a crypto startup from a regular startup in terms of needing capital

is the argument that the rails for permissionless capital formation are easier in crypto? feels irrelevant

i believe argument is also that successful decentralised value creation usually necessitates some sort of participatory & revenue generating incentivization mechanism (as seen in most L1s) - 

imo - new 'business models' for crypto startups are needed that can ensure  profitable scalability from the get go