Here's the reality check on Ethereum Layer 2s: most sequencers remain centralized. Yeah, you heard that right. Despite all the hype around decentralization, the major L2 rollups—we're talking about the big players—still run on centralized sequencers. A single entity, whether it's the core dev team or the foundation, controls the show. Decentralization was always supposed to be the endgame, but it's clearly taking way longer than anyone expected. The infrastructure is there, the tech works, but adoption of distributed sequencers? Still lagging. It's one of those uncomfortable truths in the Ethereum ecosystem nobody talks about enough.