That thought did cross my mind watching that. I guess, it all depends on whether you believe that we're just on a low point on the "Bitcoin Cycle", or in something more serious, what with Etherium PoS and the Money Printer.
And speaking, not of Crypto but of stocks, historically, even when there's a steep drop / bear market, it's always ended up recovering and going higher.
So with that in mind, maybe that YT'ers not wrong.
This has nothing to do with the Market or Even bitcoin coming back up. They most likely will.
But that won't make coin mining profitable again, unless a large amount of GPUs permanently leave the mining game.
I said this would happen before the merge and people some didn't get it. Ethereum's was an order of magnitude larger than other minable coins.
When Ethereum merged, all that mining capacity killed all the other coins profit.
Since Ethereum is gone, the biggest market cap GPU minable coin is Dogecoin which is basically a freaking joke.
The two biggest coins below Bitcoin and Ethereum are PoS.
PoW is out of favor, there is nothing rushing in to take Ethereums place.
As long as most of that excess Ethereum mining power sits waiting for profitability,
there will be no profitability. Since as soon as anything is profitable, that capacity goes to work on it, and wrecks it.
It's going to take a LOT of miners finally cluing in a bailing out before the remainder can start to eek out profits again, and those profits are likely going to be lower because there is a LOT of excess capacity to work through.