The thing that youre missing is that the market likes inscriptions because theyre on Bitcoin. People can (and have) made inscriptions on other chains. Litecoun, dogecoin, eth, solana all have then now. The market isnt moving there. Being on bitcoin is a feature. Its not likely that community will fork off to a smaller chain.

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Considering most action in the space is sponsored by VCs they might want more control eventually. They won't get it in bitcoin. That's when a bitcoin VC fork could happen. At leas that is my understanding of his point. It agrees the market chose bitcoin for now. It doesn't mean that bitcoin as it is will work for selling jpegs for ever.