Is buyback and burn a sacrificial ritual for liquidity?

When the price of a coin declines, many project teams habitually play the "buyback and burn" card, as if this can reverse the march of entropy. If we strip away the grand narrative of self-deception, we find that many buybacks are actually physical fallacies of stepping on one foot to jump into the sky.

Distinguish between two forms of buyback:
1. After the business is operational, profits overflow to replenish the token, forming a closed economic model, which is the way.
2. Due to lack of self-sustaining ability, they can only maintain the illusion of consensus by burning reserve funds. This kind of buyback is essentially using real money to replace their own air.

In the current market with liquidity exhaustion, cash flow is the only certainty, while air tokens are often uncertain. Consuming valuable certainty assets on meaningless market maintenance, rather than continuing to invest in technological iteration or market battles, is a proactive reduction of dimensions.

When a project begins to use buybacks to deplete the treasury for "self-rescue," it is actually admitting that, apart from pumping, there is no better place for funds.

The ending is: the money is gone, the coin price is not maintained, and ultimately, the project team and retail investors are left in disarray in the wind.