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但广告化并不天然等于价值创造。当所有商户都必须通过竞价才能被看到时，广告费便从增量工具演化为入场券。单个商户的理性选择，是继续加价以维持原有订单量；但从整体看，供给侧为此付出的总成本却在不断上升，而需求并未同步扩大。平台收入提高，但供给侧整体并未获得更多有效需求，反而陷入内耗式竞价。这种结构下，广告化更像是将抽佣换了一种更隐蔽的形态，甚至加剧了零和博弈。
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The 386 solves this by repurposing RPT (Repeat). Normally, RPT implements loops -- it re-executes a micro-instruction while decrementing a counter, as we saw in the multiplication post. But when a protection test is in flight, the hardware suppresses RPT's counter-decrement and turns it into a pure stall: the sequencer freezes until the PLA result arrives.
Read the full story at The Verge.