Cheers, happy new year to you!

I just push back on the idea of “100k sats” as a single measure of miner revenue.

Block subsidy (new issuance, or “production”) is an entirely separate revenue stream from tx fees. One is known and predictable, where the other is a determined by (volatile) market demand.

The cost of producing ~enough hashes (statistically) to find a block is not determined by either form of miner revenue. It is determined by real world hardware/energy/etc costs, and how many hashes competing miners are producing.

TLDR; successful miners do a ton of financial and risk modeling for all kinds of scenarios, and invest accordingly.