An IOU isn't automatically a token though. For the token analogy above, there is no reason for the arcade to start using blockchain instead of little metal toke

An IOU isn't automatically a token though. For the token analogy above, there is no reason for the arcade to start using blockchain instead of little metal tokens (even if there is some marginal benefit of the new tokens being usable at any location, and that the metal tokens no longer need to be produced). We could trade arcade tokens wherever we wanted, but we don't because there is no expectation of value received for the token holder. If Facebook doesn't open some ecosystem for their coin soon, the whole measure seems to be nothing but a database (as parent commenters have noted).