Remember MySpace?, they where pretty big, but once Facebook got viral they pretty much died from one day to another... I think exactly the same will happen with Facebook, and the fall will be even more painful...
I actually think that the owners of these social media know this, and they are getting ready, in the way of taking as much profit as they can now... They try to charge us (content creators) all the time...
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MySpace, at its peak, had less than 100 million active users - I believe this is based on monthly active users.
Facebook reaches more than one billion active users, daily.
I don't think we can compare the two. It is tempting to assume that blockchain will slowly devour all the giant centralized services... but, what evidence do we have?
The only evidence i need is the fact that i get more benefits from blockchain in 1 month than any giant centralized service in 10 years... Its just logic to assume that centralized stuff will soon or later fall...
Surely Facebook can reach billion of active users daily, again, how can you benefit from that without paying to Facebook?
There is definitely merit to the idea that, for many individuals, an incentivized network will be more beneficial. Over time, those individuals would naturally move towards those networks.
I suppose that my resistance to the idea of "all centralized services will eventually fail" is that I think centralization has many benefits, along with the downsides. In my mind, centralized and decentralized networks will co-exist - the same way that Snapchat became popular without destroying Facebook, I think that a blockchain service can become popular without fully disrupting the existent networks.
Well, i do think they will fail, not co-exist, because they have a business model that will be disrupted by blockchains, and all they proven over time is that they care first and second about money...
They should mutate a lot to survive, which i find hard they could do... I actually feel they are getting as much as they can from these networks now, as they know they wont last forever...
But again, this is all speculation of course, no one cant really know how the future will look like! ;)