Woofun AI reports that former Ethereum Foundation member and core develohighlighting Ethereum's entry into a critical phase of institutional succession. This transition involves complex shifts in legitimacy distribution and governance structures, raising concerns about potential protocol funding crises.

The Ethereum Foundation's longstanding 'subtraction' philosophy, aimed at decentralizing influence, has inadvertently created unclear legitimacy boundaries, hindering the emergence of alternative institutional centers.

Concurrently, the ecosystem faces a structural funding gap, exacerbated by the scheduled end of the protocol incentive program (CIP) in 2026. As ETH reserves deplete, core development funding may contract to approximately $30 million, posing risks of team attrition and long-term reliability issues for the network.