Is it really that simple to say "the project is dead" whenever the floor price drops?

I think the liquidity of NFTs is more like the weather: when it's cold, the floor price is just catching a cold; the real trouble is thin order books and scattered buy orders, making it hard to sell without slashing prices all the way down. Royalties are also quite awkward—if they're too high, everyone will go to zero-royalty markets to avoid them; if they're too low, the team and community activities have no budget, making it even harder to sustain the narrative... Anyway, it all comes back to whether someone is willing to tell stories and do the work long-term.

Recently, AI agents and automated trading have become popular again. Watching a bunch of bots scanning on-chain, some are hyping narratives, while others are genuinely hunting for security vulnerabilities and authorization risks.
Now, when I look at NFTs, I not only check the floor price and popularity but also casually review transaction routing and whether the authorization is a mess—don't just earn a little fee and then risk losing your wallet.
That's all for now.