HN had an article about how web3 is just an expensive p2p [1]. If that is the case then its core promise - of an internet where content is owned by its creators, can't be held hostage by tech oligarchs and can be moved anywhere its creator wants, is impossible to fulfill from the start. The data will have to be created by apps that are going to be coded by tech companies. What is from stoping them from adding data to the blockchain in a proprietary format? Won't that defeat the core promise? But then I can't reconcile it with the ebullient shower of praise by the likes of A16Z[2]. What am I missing in trying to understand web3?[1] https://netfuture.ch/2022/05/web3-is-just-expensive-p2p/
[2] https://a16z.com/wp-content/uploads/2022/05/state-of-crypto-2022_a16z-crypto.pdf?utm_source=tldrnewsletter