A lot of people said they wanted mass adoption. What they really wanted was mass adoption with 2021 style easy money. That was never how this was going to work. Back when this market was smaller, messier, and less efficient, just being early could make you look smart. Now there’s more attention, more capital, more competition, and way less room for lazy mistakes. As markets mature, inefficiencies shrink, execution matters more, and sloppy positioning gets punished harder. Back then being early was enough. Now you actually have to be good. The casino phase made a lot of people feel talented. This phase will show who really leveled up.