My long term Bull case for ETH

Hey everyone - mainly looking for people's thoughts on this, especially arguments against the following so that I can ensure that my thoughts here are rock solid

Also - yes I know, I'm not unique, but at least I'm not pushing a shitcoin ????

1) This current bear still has it valued higher than the previous bull's ATH in 2018, so similarly to the stock market, when in doubt, zoom out applies here, and long term, ETH is trending up (ref. The ETH price chart)

2) The use cases are still being created every day, and the existing ones are constantly being used more, - the ability to program smart contracts that use ETH gives it immense flexibility - I think this is the critical innovation that ETH made and was able to capitalize on via first mover's advantage (for use cases ref.: https://vitalik.ca/general/2022/12/05/excited.html)

3) To this day it's one of the most actively developed cryptos there is, and as far as the top 10 cryptos based on development activity (no. of GitHub commits in the last 12 mos. - 8 of those 10 are built directly on top of ETH or built to specifically interact with it and other chains (ref. https://www.cryptomiso.com)

4) As use cases go up, so does buy pressure, especially now that ETH is deflationary (Currently at ~1% per year since the merge! ref. https://www.ultrasound.money)

5) Lastly - you have the big traditional finance firms salivating at the prospect of receiving 7-10% guaranteed APR on their money via running a PoS validator node, especially now that withdraws are only a month away (ref. https://usa.visa.com/solutions/crypto/the-merge-ethereum.html , who doesn't like a fat APR?)

Now, it'd be disingenuous if I didn't present what is giving me hesitation

1) For crypto as a whole - especially post-FTX, the fear of government overregulation could stifle innovation and demand for years to come depending on how it is handled. I personally find this to be the greatest threat to crypto at the moment

2) Transaction costs on the L1 chain are still pretty high, and using L2/L3's is likely way too convoluted for general adoption - especially in first world countries where alternative payment systems are so simple to use and trustworthy

3) it isn't Bitcoin - while I don't personally think this should be an issue it still stands that BTC and crypto as far as the general public goes are one and the same, kind of like how people don't "web search" things, they "Google" them

Anyways, I'd love to hear everyone's thoughts on this whether in agreement or against

My ultimate goal is to check my thinking here and facilitate my own learning as well as any others that participate

I hope all of your portfolios go so far into the green that you can retire with that Lambo ????