Build on Ethereum

Genuine question as I’m coming over from Bitcoin to the land of DeFi.

Bitcoin is pretty standard. Bitcoin = (A Store of) Value

Ethereum has value and has smart contracts build in.

I read more and more about companies that “build on Ethereum”, like Worldcoin of the recently famous Sam Altman.

Read about Worldcoin and stumbled upon “build on Ethereum”. Sound cool and all, but what if companies like this all build on Ethereum. Than you have a massive blockchain with all kind of apps and companies running on Ethereum. Cool. But. But what is Ethereum somewhere al long the line insert

• fails
• Gets hacked
• breaks with an EIP
• becomes a monopoly
• fees get out of hand
• looses market interest, due to another chain

What will happen to all those companies? Will all die off because the mother chain Ethereum fails, breaks, gets hacked or whatever?

Sound pretty risky to build a whole company like Worldcoin with eyeball scanners and massive amount of personal data on 1 chain in the hands of another company.

I mean, it’s all fun and games, until something breaks.