Some points on REV/valuations:

1️⃣ Valuation dynamics similar w/ or w/o MEV

2️⃣ BTC: price barely moves with REV

SOL: dynamics driven by REV

ETH: trying to figure things out in the middle

3️⃣ Peaks of SOL & ETH val's at similar levels of P/S ratio and REV as % of token supply