I feel like many people have a bit of a skewed expectation about "on-chain privacy": every transaction you send essentially just puts your intent into public memory, waiting in line to be processed, and trying to be completely unseen... frankly, that's quite difficult. At best, you can scatter some related information, avoid tying your wallet to your real identity, and make some small tweaks or "patches," but don't expect one-click invisibility.

As for compliance, don't expect to bypass all rules either; what you can usually do is: avoid actively exposing too much, and you can't dodge the required information from platforms or entry points. Recently, there's been complaints about validators eating MEV and unfair ordering, which is quite straightforward: if someone can see your transaction and decide the order, then privacy and fairness are no longer on the same level... My current expectation is: on-chain transparency is the default, privacy is a patch added on top, and fairness depends on luck and the tools you use. That's it for now.