I think this fundamentally ignores what’s guaranteed to happen in the future: corporate ownership of… everything.

The only thing we own these days is our identity. That said, our digital identities are largely owned by user data companies like VISA, Google, et al.

If applications can run on the blockchain, and users have the ability to immediately and irrevocably “nuke” the personal information stored on the block chain, that massively improves on the centralized database model.