While I agree in general that their VC incentives will push them towards prioritising profitability, VC investment in the wider crypto space has not been about that, it’s been about accruing maximum exit liquidity for "something made out of nothing" (tokens, nfts, etc).

I also believe we have to look long term and unconventionally at these types of things. Ordinals and their inscriptions are a very "now" thing. Bitcoin is in active development, there are new possibilities that we’ve not even discovered yet.

There is a long march ahead. We talk a lot about a new global, egalitarian, un-censorable, thermodynamically sound financial system. If you’re saying that too many jpegs and some VCs will unwind that, then you may as well sell your stack and buy the SPX.

Bitcoin is and always will be under a constant state of attack. Forever. The task at hand is to defend it. Defence via censorship would be the largest strategic blunder in millennia.