Thoughts on Casper ($CSPR) as an investment vehicle

Been watching $CSPR's price action the last few days, hovering around the 6.78 mark. Seems like a lot of the enthusiasm around its initial promise has cooled off, at least in terms of sustained price appreciation. While the tech is sound, I'm questioning if its current valuation truly reflects its future adoption potential, especially compared to some of the more established L1s. Is it just trading flat because it's still early, or are there fundamental hurdles the market is pricing in that I'm missing?

Maybe I'm overthinking it and it's simply a long-term hold that needs more time to bake. Change my mind.