...If the market price of bitcoin goes below its production cost, the entire network will be doomed as new supply will stop. Everything goes hand in hand here!...
Where do you get that from? For years
BTC was mined at a loss by people who found it interesting.
Even now there are people mining with older inefficient miners who loose money every day even at $50k or $60k per
BTC.
As people stop mining difficulty drops so the remaining miners make more. If the price drops even more, more people may drop out and the remaining people will get more
BTCThat's the way the system works. That's the way it's supposed to work.
-Dave