> I think that in 2023, folks will start approaching these projects more cautiously

You have a misplaced faith in people. There is absolutely nothing of societal value in Web3, and the fact that the author of the article can claim otherwise with a straight face shows that enough people haven't understood this yet.

Whether you put the source of truth in a centralized database or a distributed ledger controlled by the crowd, the ultimate arbiter is the rule of law. As soon as you accept this, the only correct engineering solution to any problem of tracking ownership is the one that is the fastest and lowest cost (per transaction, to evolve the spec for new requirements including compliance with new laws, to roll back failures, etc.), and that rules out distributed blockchains.