Indeed it is. It is precisely a sunken cost fallacy for Ethereum holders and the chain itself to be useful for anything if one has to spend $150k in fees just to send $300, which is hilariously inefficient and has been so for years after promising for a reduction in fees since the problems first surfaced.
Like the creators of CryptoKittes which is one of the first NFT projects on Ethereum have complained about this and built their own blockchain, now the creators of Bored Ape Yacht Club (BAYC) has also realised that Ethereum cannot globally scale and are considering building their own blockchain.
Ethereum after all these years hasn't improved, and is still unsuitable for even for basic payments. Everyone was hyping for 'The Merge' to happen next month or so, but was delayed again.
Why would anyone tell businesses, clients and partners to 'Wait 7+ years for the bugs to be fixed and optimised first' only for it to be delayed again? They'll just give up and look elsewhere.
Indeed it is. It is precisely a sunken cost fallacy for Ethereum holders and the chain itself to be useful for anything if one has to spend $150k in fees just to send $300, which is hilariously inefficient and has been so for years after promising for a reduction in fees since the problems first surfaced.
Like the creators of CryptoKittes which is one of the first NFT projects on Ethereum have complained about this and built their own blockchain, now the creators of Bored Ape Yacht Club (BAYC) has also realised that Ethereum cannot globally scale and are considering building their own blockchain.
Ethereum after all these years hasn't improved, and is still unsuitable for even for basic payments. Everyone was hyping for 'The Merge' to happen next month or so, but was delayed again.
Why would anyone tell businesses, clients and partners to 'Wait 7+ years for the bugs to be fixed and optimised first' only for it to be delayed again? They'll just give up and look elsewhere.