By design, a Morpho Blue market can't protect its users: it can't freeze the market to mitigate risk, act on the interest rate curve or implement rate limiting, and it has no Umbrella junior tranche to protect deposits.

When an isolated market breaks, its lenders take 100% of the loss.

If you're a Morpho user facing an adverse event, they will just tweet and let you sink, as they did during the dozens of vault blowups that led to dire user losses. Ask anyone who was in a curator vault during Stream/Elixir.

Users won't trust an infra with real size if it doesn't care about them or support them.

That's why, even with infinite VC funding, deployed incentives, a competitor that lost its best contributors and paid partnerships, Morpho only added a pathetic +$2.15B in active loans this year.

For comparison, I did as much in one week at the Plasma launch.