  We prove the following dichotomy. Given an analytic equivalence relation $E$,
either ${E_0^{\mathbb{N}}}\leq_B{E}$ or else any Borel homomorphism from
$E_0^{\mathbb{N}}$ to $E$ is "very far from a reduction", specifically, it
factors, on a comeager set, through the projection map
$(2^{\mathbb{N}})^{\mathbb{N}}\to (2^{\mathbb{N}})^k$ for some
$k\in\mathbb{N}$. As a corollary, we prove that $E_0^{\mathbb{N}}$ is a prime
equivalence relation, answering a question on Clemens.
