Is Ethereum experiencing an existential crisis?

The essay argues that Ethereum is not in an existential crisis but an evolutionary transformation, and it proposes that Layer 2 networks adopt distinct cultural identities and that the community become more welcoming to newcomers. The author draws on ideas from Hans Widmer's bolo'bolo, such as hospitality, voluntary work and cultural diversity, to frame these proposals. The essay cites Ethereum's over $500 billion in Total Value Locked, with $30 billion on Layer 2s, and states that only 0.1% of the world's 26 million software developers are active in Web3. It also says Ethereum's revenue from Layer 2 settlement is down by more than 99%, and it suggests student clubs and local communities as channels for adoption.