@JavierM V2 has around 300M TVL, not 1B (in comparison its 1.7% of the TVL of V3)
Based on my recent discussion with @eboado and highlighting concerns around new production code changes and upgradability, I am comfortable to temporarily pre-approve the Aave V3.4.
Going forward @AaveLabs and @bgdlabs will propose a Upgradability Framework that will give certainty for users over in which circumstances production codebases can be upgraded and when upgradability cannot be applied, including solidified procedures of the process. A resources that can be helpful for users.