Big company disease and empty narrative, does Ethereum really have these problems?

I disagree with Ethereum’s “big company theory” and “narrative nonsense” views. Here are some perspectives:

1) Ethereum is an experiment in the decentralized governance architecture of Crypto. It is not controlled by any centralized company or organization. Project developers, researchers, node operators, ETH Holders, etc. from all over the world participate and contribute to it.

The open source code collaboration method, community-driven decision-making process, and transparent governance mechanism will crush any centralized organizational structure in the long run. Although the efficiency is slow, it wins in openness, transparency, and the emergent innovation singularity effect. Ethereum solves the "centralized company disease". How could it suffer from the big company disease before achieving its mission?

If Ethereum really doesn't work, the choice of decentralized architecture will be to embrace "fork" and let it die. There will always be a more powerful new "Ethereum". Ethereum is still the center of the entire Crypto world, which is enough to illustrate the problem.

2) In terms of public chain technology, Ethereum has smoothly achieved the transition from POW to POS in the past few years, from the Sharding strategy to the final implementation of the core strategy of Rollup-Centric, and then the implementation of the Roadmap step by step. The security, stability, and engineering quality delivery results of the whole process are all within expectations. The strategic shift from sharding to Rollup in this process is also the result of catering to the market trend.

The problem is that the technological iteration of the public chain cannot resonate with the market cycle. The rhythm of infrastructure construction and application landing and even the market's money-making effect is out of sync, or it is difficult to have a strong correlation.

It is true that Layer 2 is affected by the mainnet gas fee and bandwidth performance, but even if the Cancun upgrade is successful, it has not brought the expected prosperity of Layer 2. Ideally, all Layer 2 chains will be launched simultaneously, and the user ecology will achieve exponential breakthroughs. Ethereum can also achieve deflation through "taxation" and "Gas Burn".

But the fact is that the threshold for launching a chain has been lowered, the RaaS narrative has also fermented, and the ideal Mass Adoption is still a long way off. To be honest, this has exceeded the constraints of Ethereum's pure technical framework.

Objectively speaking, the benefits that the NFT Fomo trend brought to Ethereum in 2021 were the market effects emerging from the decentralized architecture, and were not directly driven by Ethereum's "core" developers.

3) "Narrative" is an evolved development context and a derivative product of business thinking superimposed on technology.

For example: The emergence of @eigenlayer protocol led to the narrative of Restaking, the emergence of @CelestiaOrgDA chain led to the narrative of modularity, and the emergence of @Starknet led to the narrative of ZK-Rollup.

In the future market, @ParticleNtwrk chain's charge may make the "chain abstraction" narrative shine again, and the unified liquidity trust ecosystem that ZK underlying protocols such as @ProjectZKM want to build may also make blockchains have no chain boundaries, etc. There are too many "narrative" topics.

Objectively speaking, "narrative" is the result of the excess power of developers and the hot money Fomo. Narrative will give technology room for imagination, although "over-narrative" will also give people a sense of empty talk. But "over-narrative" itself is the result of the market's natural development. Like blowing bubbles, narratives will be replaced, but they will always exist.

In other words, without Fomo, the narrative will lose the appeal of being involved in all these "resources, talents, and funds", so it would be better to stay in Web 2 and not have to bear the stigma of fraud. Of course, MEME is also a narrative, but if the market is shorting all other narratives that have a building process and are supported by underlying business logic, the existence of MEME will lose any fundamentals.