Overall, a very good and thorough analysis with a completely comprehensible explanation why she's preferring a 100% BTC, 0% ETH strategy.
I have only some minor quibbles.
GPUs are very much not abundant. Gamers were complaining a lot during the last bull run that those crypto nuts were buying up all available high-end GPUs.
Also comparing the hashrates of Bitcoin and Ethereum doesn't make sense. Those are different algorithms that run on completely different hardware. Bitcoin ASICs can only be used for Bitcoin (or Bitcoin forks that haven't changed the POW algorithm) where GPUs as more general programmable devices can be repurposed for mining other cryptocoins which might be more profitably to mine at any given time. Together with the fact (as stated in the article) that Ethereum has reduced the block rewards over time, it's not surprising that the hashrate isn't bigger than during the previous bull run.
This leads to the criticised monetary policy of Ethereum. This wasn't explicitly mentioned in the article but Ethereum's monetary policy can best be summarized as "don't overpay the miners for securing the network".
Many see it as a necessary evil that Ethereum is still running on POW and they are eagerly awaiting the jump to POS. It is seen as a design flaw of Bitcoin that it has a rigid coin issuance that isn't dynamically adjusting to the actual demand.
To your point, some farms will swap the coin they are mining in real time on the fly (given some baking period to see a real price difference) based on profitability and are continually selling on exchanges to capture current rate.
That gpu shortage is worrying me because I’m working on a game right now with a certain hardware requirement. By X date I have been anticipating that 50-55% of gamers will have Y gpu or better, based on previous years steam hardware survey data. Gamers are having some trouble getting the new cards though (not from lack of trying). Hopefully it won’t be an issue but it’s hard to say
You could just develop for something that you can actually get today and live with the fact that it's not taking advantage of all the shiny new toys an RTX 3090 offers.
I have only some minor quibbles.
GPUs are very much not abundant. Gamers were complaining a lot during the last bull run that those crypto nuts were buying up all available high-end GPUs.
Also comparing the hashrates of Bitcoin and Ethereum doesn't make sense. Those are different algorithms that run on completely different hardware. Bitcoin ASICs can only be used for Bitcoin (or Bitcoin forks that haven't changed the POW algorithm) where GPUs as more general programmable devices can be repurposed for mining other cryptocoins which might be more profitably to mine at any given time. Together with the fact (as stated in the article) that Ethereum has reduced the block rewards over time, it's not surprising that the hashrate isn't bigger than during the previous bull run.
This leads to the criticised monetary policy of Ethereum. This wasn't explicitly mentioned in the article but Ethereum's monetary policy can best be summarized as "don't overpay the miners for securing the network".
Many see it as a necessary evil that Ethereum is still running on POW and they are eagerly awaiting the jump to POS. It is seen as a design flaw of Bitcoin that it has a rigid coin issuance that isn't dynamically adjusting to the actual demand.