Speaking as a gold bug, while Web3 is bullshit - so are most other systems. Gold is absurd (shiny rocks are expensive? what are we, children?). The US dollar is absurd (we think this system is good, unlike every other fiat system that collapses due to irresponsible oversight? The US is already in print-like-crazy mode, the end is nigh). Every system of finance lurches on the verge of collapse at all times - there is a recession like clockwork every 10 years and a whole bunch of people go broke with similar regularity - turns out there are a lot of crooks.

So while web3 might be doomed, this crypto thing is not going to die a natural death. At this point, the evidence seems to favour a crypto-heavy future. It isn't inferior to gold in terms of having a niche. Much less likely to get confiscated too.