1. Usually it takes a 10x improvement to make a switch from status quo to something new. To see a switch when the performance is much worse forces the benefits of blockchain to be extraordinarily compelling. And some of the benefits are not as rosy as initially conceived.

2. Agreed. This is status quo. I see a lot of arguments where folks claim that the blockchain creates a more egalitarian system. I wanted to explain why this wasn't necessarily the case here.

3. Agreed. However, the most important transactions are the ones most prone to arbitration, and arbitration requires authorities. Outside of valuable transactions is there really a need for such a complex database?

Thanks for the thoughtful response.