I do think that the best critique of "web3" is that it's shifting the trust into a different and less well understood space. There are advantages and disadvantages to using computers instead of analog processes to resolve conflicts, but biology is kind of unavoidably analog. In the long term I'm bull(ish) on blockchains - I think they have some uses, but most of the excitement I'm seeing now feels like it's scammy or mistaken.

I'm very skeptical about any claims about the correctness or the health of the blockchain ecosystem because, if you're interested in using flaws to take money, it's obviously much easier to scam people than to go after the fundamentals. Imagine you're a Superhacker who Only Cares About Money and you have found a flaw in crypto. You could make some money breaking the whole system, but you can probably make a lot more money taking crypto from poorly setup exchanges or individuals and maintaining the value of the things you took.

We are well aware of the problems of using legal and social systems to adjudicate disagreements. People feel excited because we have found math that helps us adjudicate disagreements in a new way and I also think it's exciting - but it all feels too early.