Here's one more problem with the modern Internet.
Novel and new innovations of the network effect are no longer built as open protocols.
Instead, they're built as proprietary APIs, or are based on someone else's proprietary API.
This is what effectively happened with Twitter. Their API was only "open" insofar as they allowed access. The moment they pulled access -- too bad for everyone building off their so-called "open" API!
To wit, new open protocols were (and are!) needed.