According to Odaily Planet Daily, Abstract Chain contributor Cygaar stated on platform X that L2 will compete with Ethereum L1 in the short term, as many workloads have shifted from L1 to L2, resulting in reduced L1 fees.
Cygaar believes that L2 is the only way for the Ethereum ecosystem to compete with new L1s, as L2 provides a balance of decentralization and fast, low-cost transactions. In the long run, L2 will help Ethereum surpass new L1s.
He concluded that while L2 temporarily reduces the value accumulation of L1, in the long run, L2 is beneficial for Ethereum and will become the way Ethereum defeats new L1s.
