Helius CEO Mert Mumtaz (@0xMert_) dropped a thought-provoking take that's resonating across Crypto Twitter: the idea that "competition is good" has become an unchallenged dogma, and it's holding back real innovation in the space.

In a recent post, Mert breaks it down plainly. Sure, competition shines when products are commodities—it drives prices down and forces efficiency. It can also spark exploration of different market niches.

But the downsides? They're massive, especially in a fast-moving field like crypto.

When teams are locked in fierce competition, they often play it safe. Instead of swinging for bold, risky ideas, they tweak marginal features on existing products. The result: tunnel vision and a flood of near-identical projects.

Mert nails it with this observation: "this lack of creativity is extremely impactful (and might help explain the lack of new interesting things in crypto but instead 60 competing versions of the same shit)."

Anyone following Solana's meme coin scene knows exactly what he's talking about. Platforms like pump.fun pioneered easy, fair-launch meme coin creation, exploding in popularity and powering millions of tokens. But now? The ecosystem is crowded with clones and alternatives—LaunchLab by Raydium, LetsBONK.fun, Pattie.Meme, and countless others all vying for the same slice.

These competitors might lower fees or add minor tweaks, but how many are truly pushing boundaries? Instead of groundbreaking new mechanics or tools that could elevate the entire meme coin culture, we're seeing a race to replicate the same bonding curve model with slight variations.

Competition can also breed toxicity. Without clear "referees" (think regulation or strong community norms), teams resort to dirty tactics—FUD spreading, poaching, or worse.

Mert wraps up by warning: when everyone parrots the same phrase without nuance, it's a red flag for groupthink.

This isn't anti-competition; it's a call for balance. Healthy rivalry can refine ideas, but hyper-competition in nascent markets like meme tokens risks turning crypto into an echo chamber of sameness.

As Solana continues dominating the meme coin narrative in late 2025, voices like Mert's remind builders: sometimes, the boldest move is zigging when everyone else is zagging. What do you think—has competition helped or hurt innovation in meme coins? Drop your takes below.