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The decentralized web is growing
(jlai.lu)
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this post was submitted on 18 Jul 2023
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Which description? That Wikipedia article says "The aim is to provide an alternative to centralized platforms such as YouTube, Vimeo, and Dailymotion."
They're saying they're not a "replacement" because it's a decentralized alternative to something centralized. Not because it can't serve the same needs for technical or economic reasons.