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I think the concept is akin to a beach ball that is passed from hand to hand. It only exists one instance of it. With a webserver, a new instance is created for each user viewing the page.

A beach ball that can be held simultaneously by any amount of people, though

Read this aloud: "[] that is passed from hand to hand. "

Hahaha the old "if a tree fell in the woods" eh?

But what if the tree is cached?

No, because of the word "only"