Not at all. The network would exist - it would just be all encrypted and you couldn't navigate it unless you held the key to each successive node. To the end us

Not at all. The network would exist - it would just be all encrypted and you couldn't navigate it unless you held the key to each successive node. To the end user, it could be more or less just like Facebook, and they could forget that it was encrypted while using it. It'd be hard to monetize because social network money (what there is of it) is all based on contextual and targeted advertising, or on gathering user statistics. Both would be impossible if all the data were encrypted.