Why hasn't blockchain been able to land in the real world and achieve commercial use?

BTC——ETH——Pi
Since landing and commercial use are inevitable, why has blockchain, after 15 years of development, still remained a castle in the air?
Security, cost of use, convenience, scalability issues
Aside from security, BTC has no advantages in other aspects.
ETH performs relatively well in these areas and was the first to launch smart contracts, thus establishing a strong ecosystem in the crypto world. However, the costs for large-scale commercial applications are still high. So after so many years of building the ecosystem, it hasn't made significant progress in empowering real-world and commercial applications, and consequently hasn't greatly promoted compliance.
SOL chain has low gas fees, is efficient and convenient, but lacks sufficient decentralization, security is lacking, and its rapid efficiency has become a meme hub. Of course, it's not suitable for large-scale commercial applications.
Other chains are even less likely.
Consensus and credibility issues
BTC's consensus and credibility are unmatched.
ETH, SOL, and others are well known in the crypto circle, but for large-scale commercial applications, there is no strong consensus among the general public—people only recognize Bitcoin. Moreover, ETH's shift to POS has damaged its consensus, leading to its gradual decline, and it’s unlikely to recover in the future.
Compliance issues, still compliance issues.
Due to concerns about challenging traditional finance, and because blockchain has yet to land in practical use, it is not compliant; since non-compliance areas are uncharted territory, progress is slow.
To this day, blockchain can only stay at the most primitive and basic application of trading coins in the crypto circle. It also seems to have fallen into a vicious cycle.
The real-world applications have never made substantial progress; this is both a problem and an opportunity.
In recent years, Pi Network has been criticized internally and externally, but it continues to quietly block out noise and keep building...