The metaphor of the Ship of Theseus reveals the essence of alts in the crypto world.

If a ship replaces all of its parts from the beginning to the end of its journey, is it still the original ship?

In the crypto world of alts, after rounds of project iterations, is it really innovation?

The essence of alts is a theatrical play of structural harvesting.
It seems that each is decentralized, but in fact, the center has long been preset in the private key of the minter.

They wrap new narratives with narratives, hot spots, and emotions

The goal is simple: to entice retail investors to take out their stablecoin USDT.

into the bubble of altcoins,
Then the funds are collected and ultimately flow into Bitcoin.

This is a repeated migration of value:

U SDT from the hands of retail investors, through countless cottage transfer stations,
Eventually, it flows into the deep sea of Bitcoin

Every time the board is changed, the ship of Theseus is still at sea,
Every time the narrative is narrated, the copycat situation is staged as usual.

Retail investors think they are boarding the ship of financial freedom,
Little do they know, that is a driftwood raft sailing towards zero value.