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?
I think motive of games is to give you adrenaline and dopamine which keeps you happy and also motivated to play more. Games are always designed in this manner. P2E gives you that adrenaline and dopamine with the lure of money. Obviously, the main thing that would matter at the end will be how fun the gameplay is but money adds that extra compensatory incentive over the fun factor in the game so that even if the game is slightly less exciting you'll still be addicted to it for lure of money.