I see $TAO trading at a fraction of its true value. OpenAI commands a $300B valuation - 75x annual revenue - while losing money on every user. Bittensor? A $3B marketcap, just 1% of that, with a live network, real emissions, and sustainable economics. Looks like structural mispricing to me. What most miss is that TAO isn’t just a token. It’s economic bandwidth for the AI layer. If Bitcoin is the final settlement layer for money, Bittensor is the settlement layer for intelligence. Both have 21M token caps. Both create permissionless networks. Both reward contribution through elegant incentive design. But Bittensor operates in a market growing 36% per year - already worth $279B globally. While most of the community zooms in on Root APY vs bleeding subnets, the big picture is that Bittensor is getting stronger with every day that passes and every validator and subnet added. The market’s upside down for now. $TAO's scarcity will become apparent as more institutional capital begins to understand what's actually being built.