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?
Not actually addicting enough, in order for the play to earn games to sustain its reward, the game should make the player to voluntarily spend money in the game. P2E may use the ranking system which is done by Axie infinity to reward their players.
Another thing is through competition (aside from ranking). A seasonal tournament may be a good way to make players spend money to upgrade their character. Another thing is to develop a social community within the game where they can interact freely. A guild competition and many more. Anything that will make their player spend money to support the game ecosystem is needed for the P2E to survive/prosper.
A good idea because I am a fan of games, can play and earn token, for fans of games, of course this is a good idea, the success of Mobile Legends is certainly worth imitating developers so that it can make a big better project.
if Mobile Legend is integrated with the blockchain and makes the game Play To Earn of course we will all be happy,
because we know playing games a lot does not find good things, but if play to earn is applied in Mobile Legend and other esport games,
of course this will make players like it even more, just imagine we play games and have money from there, it's very fun
Looking at your reply, why does people spend lots of money on Mobile legends even though they don't offer P2E? Because the game is entertaining and often triggers a personal ego, or bragging rights

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So the P2E game should have the needed element to make a player hooked and willing to spend.