„The narrative that L2s benefit Ethereum is largely wrong“

His perspective is not wrong if we assume that people on L2s will keep doing things that they used to do on Mainnet.

But I don't think it's true. There will be more fresh apps utilizing L2 blockspace, and the demand will eventually rise. Plus, if Ethereum didn't have L2s, an even bigger part of its lunch would be eaten away by Solana.