I'm not sure what web3 is other than a label that people started slapping on the collective efforts of people vaguely doing anything with or depending on some kind of block chain thingy. IMHO it has very little to do with the web and little or no relevance to end users.
From a technical point of view, I don't see anything wrong with having a distributed store of ownership of stuff. There are all sorts of useful and valid uses for that. The problem is all the hyena's with dollar signs in their eyes floating around any companies active in this space. It's hard to see the forest for the trees because of this. Doing anything with a blockchain almost automatically buckets you with the fraudsters, utopians, and other people plaguing this space.
Most of the companies in this space are a combination of naive, fraudulent, or misguided. With a few notable exceptions where you might squint and see some potential of some actual economic value. But most of them are obvious duds. I actually briefly used Stellar for some actual applications. Great tech. Mostly works as advertised. Not that expensive to use. Etc.