I think part of ETH’s current success is their honesty about the inherent limitations at the L1 level. They came to terms with the fact that “it’s too slow and too expensive to compete for execution, and we can’t iterate fast enough” – so they solved that issue with the L2 model. Now Robinhood is building an L2 and $ETH is outperforming. Always better to face facts and pivot, even when inconvenient.