A large corporate shopping mall settles in a nice neighborhood with small local run shops and community centers. The new shopping mall says ‘if we settle here, more people will come, and you all will benefit’. A few years later all small shops are bankrupt and the community is destroyed. What remains is a barren corporate landscape.
The good thing about decentralized platforms is that you don’t have to immediately cede the public square to corporate ownership or resign yourself to sharing space with the worst bad actors.