Do you not think supply and demand applies to building chip fabs, or something? And economies of scale?

I'm serious when I say that if there was less asic demand in 2015 and 2018, no matter what the asics were for, that might have reduced the asic capacity in 2021 enough to make the problems we had even worse.

"might".

Fabs (especially the ones who can build the chips we talk about) are not build on a crypto hype and also not build short-term.

The worry about whether it's stable enough is valid but bitcoin asics are long term.