It’s like the people who seriously touted Bitcoin as a cheaper payment mechanism in than credit cards 2013. Few of them explored how ~3% fees are a balance between customer rewards, regulatory priorities, and merchant convenience. In places like Australia regulators made other choices, largely eliminating rewards programs and capping interchange fees at around a tenth of what they are in the US.
There are good arguments for decentralization and censorship resistance, but from a first principles perspective scale and market pressures are good bets for delivering cost efficiencies.
There are good arguments for decentralization and censorship resistance, but from a first principles perspective scale and market pressures are good bets for delivering cost efficiencies.