[juliangregorian]

> Even if a large percentage of people are no longer capable of easily hosting a full node, the benefits of decentralization are there.

How exactly? If you don't host a full node, you can only participate by going through someone who does.

> The resources required are not insane, so "normal" people (read: not power elite) are capable of running a node

The resources are formidable, and those in developing economies (except for the "power elite") have no hope of running a node.

> there is still enough decentralization so that no entity can corrupt the blockchain

Except that mining syndicates control huge swaths of the blockchain and it would only take the collusion of a few to control an absolute majority.

> the rate of transaction growth is slower than growth in bandwidth and disk space costs, so things will likely get better

Please explain the math on this. My understanding of network effects means that the problem will probably only get worse.