Why $anc will hit $0.1 and how it will destroy anchor protocol

I am sure everyone knows why the yield reserve is depleting
Because there are 11m total deposits while only 2.8m total borrow.
Because $anc is continuely dropping even when other coins rally.
Because Anc-Ust staking reward is only 17.67% on anchor. So any reasonable person will sold $anc for $ust and deposit back to anchor. So $anc price is continuely dropping.
lower $anc price means even less borrow amounts, because borrowing rewards are paid partly by $anc.
It’s a dead spiral.
Simple logic above.
I dont know why people are ignoring the elephant in the room.
VeANC may not be the best way to boost anchor ecosystem, but it is a feasible way to make anchor self-sustained which is verified by many Defi apps.
Semi-dynamic APY ? Come on!
I am so disapointed.

V2 will solve most of these, V2 won’t need $ANC rewards, so all ANC buybacks will go stakers.