The BAGS Gas token has plummeted over 80% following an announcement by Steve Yegge, a prominent developer, that he will be dedicating more time to development work on Gas Town, a tool for managing AI coding agents. This shift in focus led to a sharp decline in market enthusiasm, with the token's value dropping from a peak market cap of $60 million on January 16 to significantly lower levels. Yegge's decision to concentrate on development rather than engaging with the community on platforms like Crypto Twitter has highlighted a tension within the Web3 space. The market's reaction underscores the speculative nature of many crypto assets, where investor interest is often driven by hype rather than the underlying technology. This incident reflects broader challenges in the Web3 ecosystem, where the rapid pace of capital flow contrasts sharply with the slower, more deliberate process of technological development.