What I meant to say was Ethereum social network projects. I mainly see them as places where people go to shill their NFTs and memecoins so they can dump them on other people. Their followers are just exit liquidity.
Discussion
That's right, the social sphere is complex, with extreme pressure toward centralization. I believe that many projects were created honestly, but their authors were weak.
The incentives are all designed to give scammers the advantage. There’s no such thing as an honest token-based community. The insiders just want to cash out at the top.