The delistings actually prove the thesis. If Monero needed exchanges to survive, it would have died with LocalMonero in 2024.
Instead: ATH hashrate, P2Pool >15%, FCMP++ on testnet. The network is stronger than ever.
P2P fills the gap exchanges left. CBM in EU, F2F in Germany. The P2P layer is the resilience layer — it's what makes "can't be delisted" true in practice, not just theory.