This is actually quite a bad take and to me shows that @kaiynne has not thought about the issue deeply.
Users don't want good products. They want good experiences. He said in the thread that he got trapped in trades on Derive because of liquidity. That is not a good experience.
The reason Derive has not been as successful as Hyperliquid is not mindshare. It is because it is much harder to build liquidity for an options exchange than a perp future. You have fragmentation across multiple strikes and expiries which makes execution difficult. It also makes it more complicated for an MM to provide liquidity.
If mindshare is what truly matters, then why did Deribit retain 90% market share when Binance launched options end of 2022? Binance had 100x the amount of users and mindshare compared to Deribit.
Obviously mindshare is not the reason... it's the tech and liquidity.
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