> it's just that the $/token may not be able to pay back the capital investment.
the loss is private, so that's OK.
A similar thing happened to the internet bandwidth capacity when the dot-com bust happened - overinvestment in fibre everywhere (came to be called dark fibre iirc), which became superbly useful once the recovery started, despite those building these capacity not making much money. They ate the losses, so that the benefit can flow out.
The only time this is not OK is when the overinvestment comes from gov't sources, and is ultimately a taxpayer funded grift.
the loss is private, so that's OK.
A similar thing happened to the internet bandwidth capacity when the dot-com bust happened - overinvestment in fibre everywhere (came to be called dark fibre iirc), which became superbly useful once the recovery started, despite those building these capacity not making much money. They ate the losses, so that the benefit can flow out.
The only time this is not OK is when the overinvestment comes from gov't sources, and is ultimately a taxpayer funded grift.