> Well-staffed tech companies building web3 applications often build their own implicit L2 solutions because it’s just how you connect things in a distributed system with modern L1 blockchain constraints.

Sure. The banks do the exact same thing, which is what makes them so goddamn profitable to run. The problem is that the entire cryptocurrency space now has to choose between two destinies:

a. Default on the trustless model in order to continue scaling, passing the actual verification process to private validators who may or may not be scamming you.

b. Let every token lose it's value, allow the system to suffocate and continue pushing for airtight security until the bitter end.

Now, neither of those are attractive choices. I'll tell you what, though: I'd rather have a $20 bill than $20,000 of Monopoly money.