During the last bull, much demand was met with paper bitcoin not backed by anything. Supply side scarcity didn't factor in as much as it should have & people learned a tough lesson about bitcoin.

I feel that if people are turning to bitcoin because of a lack of trust in fiat & banks, they will want to reduce/remove third party risk. Maybe I overestimate their understanding of Bitcoin, but a lack of third party risk was a large & obvious feature for me.

Let's see how this pans out.