I've been quite conflicted about the PFP/membership system: assuming the community can continue to produce (offline/information/governance rights can truly be utilized), then it’s more like turning "trust" into a transferable ticket; but if it’s just based on avatar consistency and short-term hot topics, essentially a bidding for attention, once the traffic flows away, it’s just a picture left. Recently, AI Agent + automated trading has been hyped up a lot, but I’m actually more concerned about friction: authorization for bulk on-chain interactions, slippage, MEV being squeezed, which eats back the "membership benefits"... The turning point might depend on whether brands can ensure safety and experience: default limits, clear revocation of authorization, fewer tricks and more verifiable commitments. Otherwise, the long-term value hasn't been seen yet, and it’s already worn down by a bunch of hidden costs.