Eleven years after Ethereum Foundation set the blueprint, crypto projects now face a reckoning: are foundations becoming more of a burden than a benefit? From Arbitrum's governance debacles to Kujira's treasury blunders, this article dissects how structural flaws and opaque power dynamics are turning these once-idealized entities into liabilities. As a16z declares the 'end of the crypto foundation era,' we analyze whether DAOs or corporate structures might be better suited for Web3's next chapter. Spoiler: the numbers aren't pretty.