What are you comparing the below 1 sat/vByte fees with? With transactions with fees that pay 1 sat/vByte and more or with the block subsidy? If it's with the former, then I agree with you. If it's with the latter, then I don't.
It's not me it's CK:
Now that solo ckpool has mined a block with sub 1sat/vB transactions I have data on the reward mined as the result of a low transaction fee period. Of the ~4900 transactions mined in this block, ~3300 were sub 1sat/vB transactions. It took some time to sift through the data of these transactions to determine what the mined fees were. They amounted to ~.0018 BTC more in fees, or ~$220. This is ~.06% of the current 3.125 BTC block reward.
Whole block in question fees were ~0.012 BTC $1,455, so ~ 13% of total fees.
Not necessarily. The network can continue exactly like this, without growing, and will remain profitable and secure.
Well, you can have a
- 2 trillion worth of coins chain protected by a gear that needs 50 million a day to be overpowered
- a 10 trillion worth of coins that is protected by gear needing 60 million a day to be overpowered
Which one feels safer?
I said it many times, you can guard an ice cream shop with a guy, you can guard a Walmart with two armed bodyguards, but I doubt guarding the White House with 3 guys is a good idea.

Anyhow, one thing I'm curious about this mountain of consolidations tx, how many of those are not actual exchnges,casinos,mixers but the same guys that flood the chain with runes?