  We perform a comparative theoretical study of the data at spacelike momentum
transfer for the $\gamma^*\gamma\to\pi^0$ transition form factor, just reported
by the Belle Collaboration, vs. those published before by BaBar, also including
the older CLEO and CELLO data. Various implications for the structure of the
$\pi^0$ distribution amplitude vis-\`a-vis those data are discussed and the
existing theoretical predictions are classified into three distinct categories.
We argue that the actual bifurcation of the data with antithetic trends is
artificial and reason that the Belle data are the better option.
