This is the typical argument on a very technical board such as HN where blockchain is synonymous with a specific implementation. But that's an outdated way to think about blockchains. Yes, Bitcoin's implementation is a huge resource hog and slow. But for most newer projects "blockchain" just means an auditable trail of state changes. Whether you implement this with the shiniest newest db paradigm or some simple SQL database is irrelevant for most people in the economy. However the fact that we now have a global consensus over the ownership of digital assets that's something new and valuable. And that consensus didn't exist in a meaningful way in the past; at least not in a way that was accessible to the public - there were always gate keepers involved. In that sense blockchain is not about some fundamental technological revolution, it's about the introduction of digital ownership that's accessible to anyone.