This bull market will be defined by the rise and astronomical pump of Apps/Single Purpose Protocols

There are many early signs of that:
$ZEC - Privacy
hyperliquid:native - Perps
near:native - AI
$VVV etc - AI Apps
$CARDS - Collectibles
Where does that leave multi-purpose L1s?
If the chain captures a lot of the revenue generated by these apps, their token will perform well
That will require chains to improve their tokenomics though
$SOL for instance has an inflation problem.
The problem is not that inflation is high, but:
(1) Most people still think it is 9%, when it's less than half of that
(2) The word inflation triggers investors/CT, which is expected in an industry that is where it is because of Bitcoin, a fixed supply asset.
Still, yes, it could and should be lower than it is now.
It is also important to remember that Solana is still 10x higher from the bottom of the last bear market and there was an insane amount of trading from $8 to $296 that is still finding balance - its why the price range has been so tight for the last 5 months.
With that being said, I still don't think the current price action is a Solana problem, its because the market wants aligned tokens and/or easily digestible projects that have one goal and do it well (making it easier to justify investing because you're only tracking one thing).
The tl;dr is that in the past you used to expect BTC and L1s to pump hard and only then an altseason.
From now on the market will have less rules and more focus on quality