A lot of crypto projects would honestly perform better without launching a token in the first place. The tokenomics design becomes such a burden—endless supply mechanics, vesting schedules, dilution concerns. Sometimes the core product just gets overshadowed by speculation and governance theater.

Think about it: not every protocol needs a native token. Some would gain more traction focusing purely on utility and user experience instead of dealing with regulatory headaches and community backlash around token distribution. The token becomes the problem rather than the solution.