It is like questioning the purpose of shovels, because surely if shovels generate so much wealth for the miners, wouldn‘t shovel companies ask for a percentage of the gold (say 30%) instead of selling shovels at a unit price?
But saying just because openai didn't adopt a particular business model therefore tokens must be worthless seems like a stretch. Maybe it was regulatory. Maybe they just don't want to be a conglomerate of that sort. Could be any number of reasons.
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It is like questioning the purpose of shovels, because surely if shovels generate so much wealth for the miners, wouldn‘t shovel companies ask for a percentage of the gold (say 30%) instead of selling shovels at a unit price?
It's not an either or thing. Value chains have an equilibrium like anything else - naturally balances out.
You don't see every step being abandoned because everyone converged on the most profitable link in the real world.
They could go that route. Nvidia is doing that right now
https://www.cnbc.com/2026/07/02/nvidia-plans-to-offer-start-...
But saying just because openai didn't adopt a particular business model therefore tokens must be worthless seems like a stretch. Maybe it was regulatory. Maybe they just don't want to be a conglomerate of that sort. Could be any number of reasons.