Is ETH going to be finished this time?

Today, the hype on social media has been fermenting, and Wall Street institutions are starting to openly short $ETH !
The US short-selling firm Culper Research has publicly announced a short on Ethereum, even directly saying: "V God is selling, what are you panicking about?"
Xiao Shuai took a closer look, and here are the specific reasons for the short 👇:
1️⃣ Epic calculation error, gas fees plummeted 90%
After Fusaka upgrade, transaction fees actually dropped by 90% (expected only 10-30%). The development team misjudged demand elasticity, estimating it at 3-9 times, still using the outdated model before EIP-1559 and large-scale L2 adoption.
2️⃣ From deflation to inflation
Fee income collapsed → ETH burning sharply decreased → tokens shifted from deflationary to inflationary. Ethereum’s core economic flywheel has stalled.
3️⃣ Validator earnings cut in half
Validator tip income plummeted 40-50%, reducing staking attractiveness.
A vicious cycle has started: earnings ↓ → staking demand ↓ → network security questioned → price ↓ → more sell-offs.
4️⃣ Founders keep selling...
I swear, Vitalik has sold nearly 20,000 ETH this year, worth about $40 million at current prices.
Culper directly said: "Vitalik knows where the problem lies, so he’s selling. We stand with V God." Turns out, V God might be the biggest short on ETH?
5️⃣ Data falsification?
The so-called “surge in active addresses” has actually been address poisoning attacks and dust attacks (scam techniques), and real demand has never significantly increased. The metric cited by the ETH bulls has been discredited.
In other words, Ethereum, in its quest to scale, has inadvertently destroyed its own economic flywheel. Vitalik is selling, while bulls like Tom Lee are still throwing money into a bottomless pit.
So here’s the question: do you still dare to buy the dip?