Since you had been talking out of both sides of your mouth in regards to whether models are good are bad, I doubt that I am saying much of anything different from you except maybe some of my matters end up getting framed differently from you in terms of my desire to assert that the models are still quite useful, even if they end up playing out wrongedly.
I am a man of the grey, of nuance, of complexity. I think the models are interesting, and useful. And all of them end up wrong because you cannot simplify the chaotic nature of this market into a terse formula.
I STILL do not think S2F is necessarily completely busted yet. PROBABLY at this point... but. And I would love to see it come roaring back particularly with the overshoot needed to balance this deviation.
But I am not betting on that.