If I understood Web3 correctly, it would be exactly like traditional web, except that:
* The source code of all websites would be open-source, and accessible to anyone. It could still be changed, but it could not be done secretly.
* All the actions of the users of the websites would be public.
If we take social forums, for example Hacker News, it would mean that:
* The algorithm behind the front page of social forums would be known. Administrators would have no way of secretly skewing it.
* When a moderator would delete a message, they would merely mark them as deleted in the blockchain, and they would merely be hidden in the UI that you use to see the blockchain. The message would still be accessible on the blockchain.
The biggest downside, though, is that there would be a fee to any action done on the website (posting, moderation actions, changing your profile, ...).