> There is absolutely no evidence to support this.
Analysts like Semi-Analysis have done a lot of modeling and estimates on the topic.
But two can play this game: There is absolutely no evidence to support that API prices do not have profitable unit economics.
I'm not familiar with that analysis, its accuracy, or its evidence. I would be surprised by this given it seems like providers are still in the growth phase.
Typically the burden of proof is on the one making the claim.