According to ChainCatcher, Cybercapital founder and CIO Justin Bons said that the growth of L2 projects is harmful to the Ethereum ecosystem, leading to underutilization of the main chain, pushing up ETH inflation, and fragmenting liquidity.
Bons believes that expanding Ethereum will destroy the capital and fees earned by the second-layer network, and venture capital will not be able to extract a share from the expansion of the first-layer network, distorting public goods.
Additionally, Bons criticized these chains for not accruing as much value as the base Ethereum chain, being less decentralized or secure, and potentially being able to steal user funds and censor transactions.
