At what point in the onboarding flow do you usually see users drop off for good?

We keep tweaking our signup steps to make it frictionless, but I'm starting to think a smoother form doesn't solve the core issue. People breeze through the steps and then never touch the core feature.

It feels like we're optimizing for the wrong metric if they aren't reaching that first "aha!" moment quickly enough.

For other builders: where did your biggest drop-off happen, and what specific change finally got them past it?