I 100% understand that it is dynamic. My point is that that is not how it will work out. As the article points out, people were still mining when bitcoin dropp

I 100% understand that it is dynamic. My point is that that is not how it will work out. As the article points out, people were still mining when bitcoin dropped to $200 even though it was unprofitable. Because they were still mining even though it was unprofitable, they kept the dynamic difficulty high enough that mining remained unprofitable. Why? Because they had the infrastructure and it is easy enough to keep on mining until you are completely bankrupt. You don't quit mining just to make it profitable again for somebody else, so you hope that you can outlast them. That is the tragedy of the commons and it seems inevitable as people spend more and more money on infrastructure investment.