That's incorrect, especially in the context of bitcoin given how concentrated early emissions were, which you mentioned. A years-long ico, or incentives paid to

That's incorrect, especially in the context of bitcoin given how concentrated early emissions were, which you mentioned. A years-long ico, or incentives paid to users, would serve the same function but without economic waste. At the same time it's true that no l1 to date did that on any non-negligible scale, and starting now would take years.