Most teams think they’ve found product-market fit when they hit one good metric, like downloads, signups, or initial sales. But real PMF happens at three levels simultaneously: macro (market-wide value), meso (features and services), and micro (interactions, moments, and experiences). PMF can be fleeting. You celebrate validating it, but months later, users have disappeared, and you wonder what went wrong. Teams are surprised when users hate the new feature, utilization is low, or complaints are high.