Metagraph Hackathon, 2024.

$100K prize pool. 670 participants.
Mainnet deployments from it: zero.
The participants showed up, collected the knowledge, competed for the money and moved on to the next ecosystem doing the same thing.
That's not a Constellation problem. That's how hackathons work in crypto.
You don't see this in Web2 or TradFi. Companies don't run $100K hackathons hoping someone will build something they actually ship.
They hire engineers, identify real problems, build products, and find customers. The hackathon/Grant model exists almost exclusively in crypto because there's always a foundation or treasury willing to hand out grants to generate the appearance of developer activity.
Real adoption doesn't come from people chasing free money. It comes from products solving real problems for real users who don't care about the underlying infrastructure.