Do you like Uniswap V3?

I want to open a discussion about the new US V3 announcement. I have reviewed several YT tutorials on the subject today and while I think it is an improvement, it really has quite a bit of downside with IL risk.

In the example given by the US team, let’s say Bob provides liquidity for ETH-USDC, he decides to put money on a strip from $1k ETH to $2k ETH. He will not earn anything above or below those points but he will earn more fees during that range. If price of ETH goes to $3k. He will be completely out of ETH because uniswap v3 has converted all his ETH into USDC at $2k because that was his maximum threshold. So he “lost” at least $1000 + IL in potential gains of ETH going above $2k-

I would love to hear more chat on this topic. While there is significant upside potential on say Stable pairs. I do not see good odds for LPs that are not stable, or as US calls “exotic” pairings.

Would love to hear from everyone here on your thoughts.

Thanks and have a beautiful day!