I Believe in Web3...Just Not That Web3

(Note: This was originally written in summer and fall 2022, and for various reasons I decided not to publish it then, despite the obviously enormous amount of work I put into it. One reason was that I wasn't completely satisfied with it, so I still consider it to be a work in progress. Given the enormous volumes of writing out there dedicated to the broad topic of web3, it would also be rather…