Think about it this way: 99% of these protocols are DeFi related. In all of those protocols, you ultimately have makers and takers, regardless of whether the protocol is literally an orderbook or an AMM (automated market maker) or something else entirely. The point is, you have two sides: someone making and someone taking. But blockchains, even the fastest ones, are still multiple orders of magnitude slower than TradFi. We're talking milliseconds vs nanoseconds. Remember, there's three orders of magnitude of microseconds between the two also. Anyways, it's basically impossible to update your quotes fast enough as a market maker on a blockchain to not get picked off. It's hard enough to do this in TradFi nanosecond land, let alone on chain. Yes, there are differences. Yes, it's nuanced. But market making on chain is fundamentally very hard and 99.9% of people who try, fail, or they "succeed" but eventually realize they would've made more by just bagholding the collateral they posted to make markets. So the liquidity (market makers) in all of these protocols eventually dries up. At which point the protocol is useless because no taker can come and trade. At which point the protocol is abandoned. At which point, if deployed immutably (this is the only truly trustless way), there's nothing you can do. If NOT deployed immutably, you can just close the program and recoup the money, could be thousands of dollars, you posted as rent to upload it in the first place.