It's libertarian in the sense that the final stage of libertarianism is that the well-connected insiders get to abuse everyone else, with zero recourse against them.

In this sense, Web3 is a tremendous success of libertarian thought. No rules, no laws, and an absolute honeypot for hustlers, thieves, and fraudsters. Anonymous founders running off with the money, repeat fraudsters pulling off bigger and bigger heists, and money being poured into the dumbest schemes which, inevitably, end poorly.

I can't think of a better condemnation of libertarianism.