I agree with this take, but even with a buy-back model, it won't be enough. The inflation in most altcoins is too high for this to have a lasting effect. Basically we need protocols with a longevity vision, ideally from founders who already have the money to build so that they don't need to raise at all. This is why HYPE is working so well, right? So we need a token with low inflation, buybacks from the team, clear PMF (revenue). But ideally, I'd see more protocols not having a token at all going forward. If the product is good enough, we will use it. If not it will die out. Eg. I use derivates DEX'es to trade, I use AAVE for yield and to borrow, Gnosis for debit card, etc. We already have enough tokens to speculate on.