[hnthrow1010]

>company that explicitly competes with

According to some crypto promoters I've seen on Twitter, blockchain is apparently the solution to everything and will revolutionize every industry. By their definition, you'd be hard up to find a company that isn't competing with them.

In actuality, the word "blockchain" usually refers to a specific type of distributed database based around a consensus layer on top of a merkle tree. Its usage competes (poorly) with other commercial distributed databases, not with Ethereum. And these "commercial blockchains" still failed to find a single effective use. All of them I've seen are just worse versions of other databases, and are either forks of some open source code, or are directly inspired by Bitcoin or Ethereum or another similar project.

>has a vested interest in the failure of open source crypto projects like Ethereum.

I also have a vested interest in the failure of projects like Bitcoin and Ethereum, and it's not because I'm invested in a competitor. It's because I don't like fraud and ponzi-style scams. And all crypto tokens are a variant of the same scam, because they inherently don't have any real value. All of them depend on the miners/validators pumping up the value so they can sell the block rewards and realize their profits. These tokens are all completely useless and valueless without a steady influx of new "investors" artificially inflating the price. Inherently they're just not like a stock, but the false idea of "crypto investing" is suggesting that they are.

You don't have to be invested in another product, to dislike scams and want them to go away.

>You're perfectly allowed to criticize your competitors

This author is far from being the only one to criticize blockchains. Lots of others shared the same conclusions: https://concerned.tech/