Are L2s Ethereum? on Bankless

Put differently, Ethereum’s inability to successfully migrate a meaningful chunk of its users onto the Layer 2 chains will likely result in continued market share loss to alternative Layer 1s as they continue to offer cheap and fast transaction execution and rapidly growing dApp ecosystems. This would directly reduce network activity over time and ... See more

Web3 infrastructure will continue to improve, with the continued improvement and growth of non-Ethereum L1s and Ethereum L2s. The Ethereum merge will hopefully happen in Q1 22. 

Ethereum is New York City; it is a happening place with the biggest DeFi protocols, the most TVL, the hottest DAOs and NFTs, but it is expensive. You scale by "building up skyscrapers" using L2 chain or "building out satellite towns" using interoperability networks that serve as highway connecting them.