That vision of Web3, "Just put everything on the blockchain" is doomed to fail and I don't know anyone who ever seriously proposed it. Blockchains are best sui

That vision of Web3, "Just put everything on the blockchain" is doomed to fail and I don't know anyone who ever seriously proposed it. Blockchains are best suited for data subject to manipulation, i.e. data in which there is profit to alter. If we were to naivly build "Web3" in theory with this in mind, then the majority of activity would be peer-to-peer, federated, or partially centralized, while the exchange of security credentials would take place on an efficient broadcast layer. The trick is to do as much off chain as possible - and if trust becomes an issue, develop a minimally on chain scheme. Its still early days, if you ask me how exactly this looks in 20 years I couldn't tell you.