I feel like this article could have been written a year ago. I also think no discussion of Web3 is complete without acknowledging how terrible the back half of 2022 was to blockchain in general and crypto/NFTs in particular. Before that calamity, Web3 already faced technical challenges relating to scalability, transaction speed and the danger of VCs dominating the space, essentially giving them the voting authority to dictate what happens. Also, it's odd to see any Web3 discussion without mention of DAOs and smart contracts. But anyway, on top of all that, you now have an environment in which investors are a bit less cavalier with the blockchain/crypto world. The collapse of FTX, Binance under investigation and governments around the world honing in on regulations are making the former gold rush seem like a trap. On top of that, you still have scam artists ready to take advantage of anyone who shows a combination of ignorance and enthusiasm in the space, so even if you move forward with the best of intentions there are plenty of people who are ready to poison the well. If Web3 is ever to be more than some sort of glorified MLM, the folks trying to make it need to acknowledge the problems (not just the technical ones) and address them.