If you've read Anathem by Neal Stephenson; he has an amusing made up word "bullshytt" (https://anathem.fandom.com/wiki/Bulshytt) that is being used in the book by the avout to denote exactly the kind of stuff web3 seems to be about.
In the book, the Avout are basically science & philosphy nerds that the rest of society has locked up in monasteries where they are not allowed to use any form of modern technology after a few incidents in the past where they went off and invented things like gene manipulation, nuclear weapons, etc. The outside world still has technology and interacting with them every few decades is hard for the avout because they seem to adopt all sorts of technical jargon every few years (i.e. bullshytt). So, they need to figure out what these people are talking about every time they are allowed out (every 1, 10, 100, or a 1000 years).
Asking the question if it is bullshit is kind of answering it, I would say. But it's definitely bullshytt.
In the book, the Avout are basically science & philosphy nerds that the rest of society has locked up in monasteries where they are not allowed to use any form of modern technology after a few incidents in the past where they went off and invented things like gene manipulation, nuclear weapons, etc. The outside world still has technology and interacting with them every few decades is hard for the avout because they seem to adopt all sorts of technical jargon every few years (i.e. bullshytt). So, they need to figure out what these people are talking about every time they are allowed out (every 1, 10, 100, or a 1000 years).
Asking the question if it is bullshit is kind of answering it, I would say. But it's definitely bullshytt.