"all real world commerce has fled to other useful blockchains"
Ah, so you're just trolling me. Whew... You had me there at the first part, not gonna lie.
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Solana and ETH have contracts. TRX-Tether has remittances. Monero has grey markets and political dissidents. These are the real, critical uses of blockchains. I don’t care about custodial coffee purchases with Square, and it’s not significant (this is obvious by the lack of volume in Bitcoin vs Tether).
Bitcoin has no killer app. It no longer has a defined reason to exist.