> And most techies went along with it because they shared the vested interest, or did not appreciate the existing system that creates the real life shopping experience we see every day.

I don't agree. I think a lot of tech people (like me) felt like the whole system was a grift and that nothing of value was lost when LE offered an alternative. If you start a business in my jurisdiction your paperwork is going to get a lot more scrutiny than what the certificate authorities were (or are) providing.