I'm skeptical regarding the first point.

>The merge flipped ETH’s supply dynamics permanently.

That unfortunately isn't sure. It only changed tokenomics until the next change. 

>Every time the network heats up, ETH becomes deflationary.

ETH hasn't been deflationary since the Dencun upgrade way over a year ago. Not even with all the activity you mentioned.

I agree with the rest of the post.

!tip 1