Yes, as I said in my article, I agree there is value there. But how much? How do you say Ethereum should have a $200B market cap? Why should it be that? Why not $300B? Or $50B? It does the same thing at each valuation and provides the same return to its tokenholders at any of those values as well. ZERO. The only way token holders collect a dime is by speculating on the price. There is no quantifiable underlying "value" to the network. It's worth something, obviously. But how much? Bitcoin you can quantify and say it is better than gold and thus should be worth more than gold. So, at $1T it still has a long way to go. What is Ethereum actually worth and what SHOULD it be worth? Nobody knows.

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