[pornel]

1. It's a squat of a name by outsiders who have no moral right to use it. It has nothing to do with the actual Web, and merely wants to ride the popularity and goodwill built around the Web. It's like branding crude oil "CocaCola2". The Web connection is usually justified with some story like "Facebook is bad, therefore we must use Blockchain", but that's suuuch a stretch and non-sequitur. BTW: the naming is off-by-one. Web 2.0 was collaborative and decentralized, and ended roughly when Google Reader was shut down. The monetized hellscape we have now is what has replaced Web 2.0 already, and we don't really want it monetized even harder.

2. There's a massive gap between how "web3" is advertised as an ideology/manifesto (decentralize, democratize, and other nice things), and what it actually turns out to be: NFT grifters, automated piracy, cults of superstonker discords with monkey avatars, a bunch of VC-backed moat-building services for unregulated amateur stock market.

3. It's a disaster for energy use and GPU availability. ETH switching to PoS is as imminent as Tesla having FSD. Meanwhile it's a fertilizer for ransomware, endless pump and dump scams, DAOs of rugpulls, and a great tool for bypassing anti-terrorism and anti-war sanctions.

https://web3isgoinggreat.com