Vitalik puts stability at the center of the ETH value argument
His store-of-value argument keeps EIP-1559 while questioning fee burn as the main valuation lens.
Vitalik Buterin argues that decentralization and resistance to capture make stability a stronger basis for thinking about ETH than maximizing fee burn. He supports keeping EIP-1559, including its burn mechanism. This is his economic argument, not a newly adopted protocol rule.
For product owners, the distinction changes what deserves attention: reliable settlement assumptions, control over dependencies and the ability to keep operating under stress. Those properties can matter to an application even when transaction fees are low.
A store-of-value thesis is still a thesis. It does not establish a price floor or guarantee purchasing power. Teams should keep treasury decisions separate from claims about the infrastructure their products need.