Long term incentives are important after the novelty of running a free relay wears off. Additionally free relays will work harder and harder as adoption arises.

Will the same incentives to sell information on users creep in? Aggregating info from zaps etc could identify those who haven't kyc'd into a Nostr client.

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As you say, one incentive could be to trade with the data, I think another possibility would be relays with ads.