I don't deny that the market crash is a factor. Regarding the merge, unlike two years ago:

- The proof-of-stake chain has been running for a year and a half.

- They've tested every combination of five execution clients and five staking clients, and they all work.

- They just migrated a large long-running public test network to pure proof-of-stake, and it went well enough to have been considered very successful if it had been the production network.

- There are two public test networks left, and if those go well too, there's nothing left to do besides the production migration.