While I like the distributed approach technically, it solves none of the social problems that social networks bring.

Filter bubbles, propaganda and competition for users' attention with clickbait and other cheap stories might even become worse, since a centralized platform could at least tweak their recommendations algorithms to break the bubbles (which Facebook doesn't seem to do, but it could).

Basically, I'm pessimistic because a distributed network only solves the (comparatively) easy technical challenge without addressing the problems of social networks.