The eth bull run in 2017 was driven by:
• It being perceived as the next bitcoin
• A fast way to raise capital through icos
Well. It’s not bitcoin. And through lightning tips crowd funding is as easy as creating a note on Nostr.
Bitcoin or gtfo.
Discussion
ICO wasn't just about an easy way to get crowdfunding. If that's what they are looking for then Kickstarter covers most of that needs already.
It's about the ability to create unregistered security and allocate them among investors, ie. It creates a mean to print money out of thin air and scam the gullible out of their money.
It's harder to do that on Bitcoin.