Today’s rain was ridiculous, and the coffee on the table cooled off... So I casually went back to check out the on-chain address profiles. Honestly, tags/clustering are pretty useful, but how much you trust them really depends on how you use them: it's common for the same person to be split into a dozen addresses, exchanges/ custodians often lump a bunch of people into one address, and with cross-chain, mixing, and smart contract wallets mixed in, the profiles can easily "look like something they’re not."

Now I prefer to focus on the "actions" of fund flows rather than "identity": when they start concentrating into a certain contract, when they suddenly disperse, whether there are traces of repositioning before liquidation, whether MEV searchers are lurking nearby... these are more reliable than "who is this." Recently, NFT royalties have been a hot topic, and actually, on-chain data also looks quite realistic: when liquidity tightens, everyone prefers to go through indirect markets, addresses labeled as "creators/whales" might also be arbitrage bots in the secondary market. Anyway, I treat profiles as maps, not household registration books.