Previously, projects could boast about "millions of TPS" or "the next generation of Ethereum," as long as the mainnet wasn't launched, the dream was always just a dream. Investors looked at the narrative potential, not actual revenue. Now, application development must demonstrate DAU, GMV, and profit margins, because users will vote with their feet. It's also a return to value after the narrative bubble bursts. The previous generation profited from "expectation gaps," while this generation profits from "real value." The former is easier to take off, while the latter, though more difficult, is more sustainable.