Group 1 - Moutai's price has experienced a significant decline, with retail prices dropping below 1600 yuan and export versions falling to just over 1200 yuan, indicating a collapse of its perceived value as a "hard currency" [1][4] - The brand has transitioned from being a luxury item to a financial instrument, heavily influenced by government banquets and speculative trading, which inflated its price to levels far beyond its production cost [4][5] - Recent changes in government regulations and a shift in consumer behavior, particularly among younger generations, have led to a decrease in demand for Moutai, as they reject the associated social pressures and expectations [5][6] Group 2 - Moutai's attempts to reposition itself as a consumer product have been undermined by its reliance on outdated marketing narratives and questionable product innovations, such as the "mint in liquor" patent [6][8] - The brand's value has been closely tied to power dynamics and wealth perception, and as these structures weaken, the demand for Moutai has diminished significantly [8][9] - The overall white liquor industry is facing severe challenges, with many smaller companies experiencing negative cash flow and inventory issues, while Moutai's brand remains under pressure [8][9]