It has been 14 months since HyperEVM launched, and the reality is stark. The network now has less capacity than the Ethereum mainnet. It is slower, more expensive, and has worse tooling. The ecosystem resembles a zombie wasteland. It is filled with mercenary teams aggressively farming airdrops, with zero genuine user engagement. The core risk remains devastating: your application can be instantly crushed by the Hyperliquid team at any moment. This is the current state. A once-promising vision has devolved into a high-risk, low-utility environment. The numbers and the user experience do not lie. Proceed with extreme caution. The data speaks for itself.