QwQiao, co-founder of Alliance DAO, expressed skepticism about the long-term value of L1 public chain tokens, citing their lack of a competitive moat and ease of commoditization. He noted that cross-chain transfers are now user-friendly, and developers can swiftly migrate applications between chains, reducing the strategic advantage of any single blockchain. QwQiao emphasized that the real competitive edge lies in vertical development and control of the application layer, highlighting efforts by chains like Solana, Base, and Hyperliquid, as well as the enterprise-grade chain Tempo, to capitalize on this strategy. He believes that focusing on the application layer is crucial for capturing the anticipated exponential growth in the crypto industry.