ETHPOW or Ethereum Proof-of-Work is a hardfork from the Merge, which tries to maintain the Proof-of-Work consensus.
Chandler Guo is the leading figure who supported the Ethereum Classic in the past and supported the ETHPOW.
Why will ETHPOW fail?
ETHPOW has no infrastructure with a wallet or a block explorer before launch. As a result, there has not enough technical support for the ecosystem but only for cryptocurrency itself.
There has already been Ethereum Classic which was hardfork in 2016 after the Ethereum DAO was hacked and has had many miners since then.
The lack of developers and users will likely put ETHPOW into a downward spiral of blockchain usage until abandoned by users eventually.
Ethereum after the Merge
Despite the disappointing performance in the market, the Ethereum supply side has been dramatically reduced due to the current inflation occurring in the fiat currency, which dragged the growth down.
The key to economic sense is to slowly and steadily grow the ecosystem rather than inflate its growth in the short term.
We need the patience to see how Ethereum will develop and not to focus on short-term growth.