Dragonfly's managing partner, Haseeb, has criticized the growing cynicism in the crypto market, where public blockchain valuations are seen as overestimated and new chains are met with hostility. He argues that valuing top-tier blockchains like Ethereum and Solana based on short-term profits or price-to-earnings ratios is misguided. Instead, their potential as the next generation of global financial infrastructure should be considered, akin to Amazon's long-term growth after initial skepticism. Haseeb emphasizes that the market prices new chains based on their success probabilities, and the true value lies in the long-term evolution of open financial systems, not short-term noise. "Smart money" continues to bet on the future of public blockchains.