I mostly see Luke as committing to forking off to an altcoin if 110 doesn't work. That profoundly saddens me. This all-or-nothing talk is part of the problem.

I will be happy if 110 succeeds but I just don't see it happening. I believe now that the incentives are the inverse of what they should be. And the result will be that a large portion of the monetary maximalists leave Bitcoin. And maybe there's even a protracted chain split and a competing coin.

I can't support that outcome. Maybe I'm overvaluing the tail risk, but that's sort of my job. If I'm wrong, I'm wrong.