Phase 1 has absolutely no physical relevance to Phase 2, and...

Phase 1 has absolutely no physical relevance to Phase 2, and what is happening now. Looking back at the past, only helps to educate for scenarios that might crop up in the future.
If you are worried about Phase 1, then you are going to put yourself in an early grave. We are currently taking small steps forward, and whilst they may be staggering steps, that are later than expected, they are still going forward.
If you have recently sold up because you didn't have the patience, I hope you regret your decision, because it means I won't have regretted mine to stay on board.