Take a look at this breakdown – it's actually pretty amusing when you really examine what's happening.

See that dotted line sitting right at the 1 mark? That's showing the total number of sequencers managing your Layer 2 holdings. Yeah, just one. Single point of failure managing the whole operation.

This raises some interesting questions about what decentralization actually means in the current L2 landscape. When sequencer operations stay that consolidated, it sort of defeats the original purpose, doesn't it? Your assets are technically on chain, but the throughput and transaction ordering? That's all flowing through a bottleneck.

The irony is pretty thick here. Users migrate to L2 solutions thinking they're getting scalability benefits, but if the sequencer infrastructure remains this centralized, you're trading off decentralization for speed. Worth thinking about before you stack your bags on a single sequencer system.