At the end of it all no play to earn games can gives player the satisfying reward they deserve, there is no unlimited reward in play to earn games, the only thing that matters is how fun the game can get, people needs to feel like ' well I am ok with the fun more than the payout' its not how much people are going to be earning its how much fun people will have. The game needs to be addicting enough. Am I wrong?
Players will never get satisfied because they will "never" get satisfied.
People has a nature that whenever they received a reward, they will find ways to find more, and they don't see the satisfied with the rewards that they're getting.
It's not only in Play to Earn games but all games in general, fun and enjoyment while playing the game matters. There are problems both with the Play to Earn games themselves and the users themselves as well. Play to earn games focuses more on the rewards than the fun. You will see that most of the play to earn games are boring. I still remember Pegaxy where you can just click a few times and then you will just watch you Pega run and run until you win. I mean it's very boring, but people are only playing just because of the rewards. Surprisingly, the project is still developing until now and there has been some updates on it.
On the other hand, users are focusing more on the amount of money that they can get and if they see that they can't get money anymore, they will just quit. I mean people are playing for the rewards and not for the fun. Both the games and the users are focused more on the reward part more than the fun part that's why users are quitting. Overall, there is no 100% working formula right now with play to earn games and we've seen many games who are just doing a rug pull because they see that it isn't sustainable in the long term.