That's entirely fair, but the perspective of those in web3 is that this property exists on a spectrum.
The present day incumbent side of that spectrum is that the DNS registrar could decide one day to just take your domain from you, and there's not much you could do about it. Sure, you could sue, but that takes time and meanwhile your business could be ruined.
A more concrete example of this is social handles. Earlier this week, there was a story about a girl that had the Instagram handle @metaverse, and Facebook decided to just take it from her with no recourse.
Our contention is that shouldn't be possible.
But here's the thing: if you prefer to have a centralized entity control your assets just like today, you have the choice to do that! Everyone that has their assets on Coinbase today is making that choice, and that's totally fine.
The big innovation is, they can decide at any time to take custody of it themselves if they want, or move it to another centralized holder! Just like you have the choice to leave your money in the bank, or you can withdraw it to cash and keep it in a safe in your house. We're just giving users that same choice for digital assets.