Axie Infinity can't make comeback during the bullrun. my reason is
1. Overrated game and boring gameplay. 2d game in 2025 is just crap.
2. Inflated tokens and infinite supply
3. Not sustainable game economy
4. The locked tokens that probable gets unlock
5. Importantly less demand.
Those reasons are enough to explain why Axie will never ever make comeback during the bullrun. Just look at its performance during the November - December bullrun. It's very disappointing, isn't it?
I disagree with what you said about 2D games in this era where 3D games are regarded as more important. You should take a look at a game which is coming out next September 4th, which is called "Hollow night: Silksong" , it is one of the most anticipated games in the lastest years, and it happens to be a 2D game with beautiful mechanics and awesome soundtrack and art. It is going to sell millions of copies worldwide, I have not doubt about it.
So you should cross out the first reason on why Axie Infinity is not going to have a triumphant come back during the next bull run, because being 2D does not have anything to do with its failure in the long term.