[thunky]

It's not obvious to me how to estimate how much ETH should actually cost. A merge or triple halvening may move the price, but how do we know the current price of $1900 is even remotely reasonable? Is it even possible to measure without comparing it to itself or to other crypto coins?

It seems like the absolute price doesn't actually matter. Everyone is only paying attention to relative price changes. But if you look at the absolute price, why does a single BTC cost the same as a 2022 Toyota Prius?