I think its both true that - Ethereum made some necessary course corrections in its leadership process, and - fundamentals today are virtually unchanged from 6-12 months ago. Ethereum's price started to trail fundamentals and people invented a narrative to explain that. These trends tend to reverse after a time, and now we need new narratives, why you see people saying Ethereum made a drastic pivot or similar things. In reality, Ethereum fundamentals were always strong, but it also has its problems. And both of those strengths and weaknesses are ~the same. The human urge to rationalize is just incredibly strong. I think to understand that is one of the best things you can learn in this market, but at least for me it took living through a few market cycles to really be able to do it. See also this tweet on the topic