This is a really useful answer, and addresses one of the huge misconceptions about the idea of VO2max power.
It’s also worth considering the relationship to your lactic acid production/processing. I prefer to define FTP as ‘the output at which you are producing lactic acid at the same rate as you can process it’. Therefore, above FTP, you begin to accumulate lactic acid, and below FTP, you can keep the amount stable.
Isn’t the pKa of lactic acid below 4?
All this talk of lactic acid is making my head hurt.
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Indeed - where’s a hydrogen ion when you need one… 
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…making my legs hurt