Positioning Ethereum as a commodity rather than a company, like digital crude oil, brings the issue to the surface. Other public chains and Layer2 solutions can provide similar block space services, making the substitutability of commodities evident. Some argue that Ethereum's higher degree of decentralization and stronger resistance to censorship justify a premium as a foundational resource—this logic is sound. But is this premium really that large? This is what needs to be carefully questioned. After all, in a highly competitive public chain ecosystem, how long can a price sustained solely by first-mover advantage and technical features last?