There are three parts to the modular thesis, each at varying degrees of validation 1. Teams will want to launch their own chains for greater control 2. Teams will prefer to launch their chains as rollups rather than L1s bc it gives them the same level of control without the overhead 3. Teams will value secure interoperability between their apps so they’ll colocate their rollups on the same consensus and DA layer 1 is basically validated at this point. Most major apps and enterprises are launching their own chains, NOT building smart contracts on shared execution L1s. 2 is somewhat validated but many teams are still opting to do L1s over rollups. I think the tide will change here as the modular stack matures (more DA, better rollup frameworks, better interop solutions) and the market is better educated about the benefits of rollups. There’s still an L2 stigma and an L1 premium, and I think rollups are seen as riskier because they introduce more dependencies than L1s. 3 is still to be seen and may take years before it manifests but as more value is held and transacted onchain the more important it will be that these systems are as secure as possible. IMO when it happens it will be like gravity, pulling all assets and apps onto one shared security layer. TL;DR - Modular thesis is looking good here