If investor attitudes are changing as the OP seems to indicate, I actually think this is a great thing. For all the doom and gloom about "Tech Bubble 2.0," the public markets are not valuing tech companies on "potential." You need real profits.
If that trickles down to private investors and makes them more gun-shy about investing in startups who don't have an obvious path to a product that involves someone using their credit card at any point, all the better. It's a much better outcome than losing all valuation rationality for a few years until the bubble pops and catastrophically damages the industry.
Also, if you do have 1 million daily users, even if you can't get the investor valuation you used to be able to get, you will still have a TON of options for a business model.
If that trickles down to private investors and makes them more gun-shy about investing in startups who don't have an obvious path to a product that involves someone using their credit card at any point, all the better. It's a much better outcome than losing all valuation rationality for a few years until the bubble pops and catastrophically damages the industry.
Also, if you do have 1 million daily users, even if you can't get the investor valuation you used to be able to get, you will still have a TON of options for a business model.