this post was submitted on 12 Jun 2023
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I don't disagree with what you're saying but I'd like to offer two "counterpoints" (I don't see this as a debate but I don't know a more fitting term)
I really hope that this won't all just fold in on itself after the hype starts to wane, and I personally don't think it will (aside from a period of turbulence) but I have been wrong before.
The optimist in me really hopes for this to be true. And it makes a lot more sense vs the crypto-fuelled web3.0 dream.
Also, folks just putting in insane hours of free work is not new considering FOSS projects and even Reddit moderation. And folks who'd like to pay just for something to exist/continue to exist, a la, Patreon.
When you have a heavily personal stake and emotional investment, I definitely see folks paying a monthly fee to keep servers afloat and help with the admin tasks for a server. Vs paying a nebulous corporate entity which will continue to mine your data regardless of how much you pay them.