Bread

Bread confirms MegaETH is an L2 and mentions, "We have ETH as our gas asset so we don't have a requirement for launching TGE at any given point." While MegaETH is building its own high-performance execution layer, it relies on Ethereum for settlement and gas (initially). High-volume consumer apps (millions of "taps") running on L2s ultimately settle data back to Ethereum, driving value to the base layer as the "global settlement layer" for high-frequency consumer finance. LONG ETH as the beneficiary of L2 scaling success. L2s becoming too efficient or data availability layers reducing fees to the point where ETH value accrual is negligible.