The mention of a "price to TPS ratio" by an L1 founder suggests a new, potentially speculative, valuation metric emerging in the Layer 1 blockchain space. Investors should be aware of this unconventional metric, as it could influence the valuation of L1 tokens like Solana ($SOL), Avalanche ($AVAX), or Ethereum ($ETH), and may indicate a shift in how some projects are attempting to justify their market price.