I now believe only three things can save Ethereum:
1. Ethereum must ossify.
Finish the remaining protocol work, reduce endless coordination, and let EF become much smaller: focused on core infra, security, research, and stewardship.
2. DATs like BitMine must fund the ecosystem.
They are now major Ethereum stakeholders. If they benefit from ETH, they should share revenue to fund public goods, builders, infra, and growth.
3. The community must build a high-leverage initiative.
Not another committee. Some small, serious teams focused on Ethereum’s hardest problems: adoption, UX, liquidity, apps, infra gaps, and narrative.