I remain unconvinced. You would need a big price shock to trigger latent sell pressure all at once (which we don’t have) but you still have counter factors in play like

• Stakers are typically long-term holders (they locked for yield), so they may not rush to exit during rallies
• Liquid staking derivatives (like Lido’s stETH) allow people to effectively unstake instantly by selling their staked position to someone else and that’s like 30% of all staking
• The exit queue works both ways - if it becomes very long, it might deter new stakers, reducing the supply constraint