Users are the lifeblood of any social application. All social media has attrition. Eventually you get to a point where you have no users left. It's not rocket science and has nothing to do with fiat. Yes this tech is opt-in, requires proof of work, and can be made better (it already is in many cases), but we're still competing with personalized algos coming from centrally curated data -- something we don't really have in nostr unless you have a massive caching server that mimics a behemoth server.
Nothing fiat about this - just stating facts. Maybe think before you try to insult next time.