What is the relationship between price fluctuations and CEX?

Why did Hanba Longwang say that the CEX alt is bound to die and there is no hope? I think there are several reasons.
a. New projects are constantly launched. The number of new projects in the past year is probably the sum of the previous years.
b. The differentiation is too strong. On one side are hard projects such as Bitcoin and XRP, and on the other side are new projects that are falling, such as ACT and PUNTS.
c. If Bitcoin, ETH, and XRP collapse one day, what will happen to other alts? If Bitcoin does not fall, who can guarantee that old mainstreams such as XRP will not fall? Once the old mainstream falls, other alts are afraid that there will be no dregs.
d. The cycle is too long. From April 13 to November 6 last year, the overall market rebounded, and it fluctuated and fell for a total of 7 months, washing most of the leeks, and finally ushered in the November alt season, and the average rebound of this alt season was only 160 points.
In summary, you may not see an alt season with an average rebound of more than 100 points in 2025. Instead, you will see large-cap alts falling. Even if they rebound occasionally, they will eventually set new lows.
But is CEX really hopeless? I don’t think so, because if it is really hopeless, there will be fewer and fewer players in CEX until it closes. In order to survive, CEX will still pull unpopular coins at some point in time.
Just like the small coin contracts that were artificially launched last year...