Vitalik, to be honest, this is why I believe Ethereum may be overtaken by other chains in the next phase: there is a huge gap between real-world user behavior and the end-state vision. As mainstream users enter crypto, demand is shifting away from cypherpunk decentralization ideals and toward bank-grade security and usability—recovery, permissions, custodial options, accountability, and verifiability. The vast majority of users will never run nodes, never manage private keys, and will never understand chain data verification. The “centralized onboarding with decentralized exit” model is elegant in theory, but it fails in mass-market reality, because 99% of people will never walk through that ‘exit.’ This isn’t about the ideals being wrong—it’s about the user base changing. For future mainstream users, decentralization isn’t the selling point; safety and convenience are.

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