Nice analysis. Maybe an even better example instead of the social media reputation are MMPORGs.
In those game very regularly there are items which can be exchanged for exorbitant amounts of real world money. However, it is not uncommon for the game operator to reduce the power of such an item in a patch rendering the item "useless". This doesn't give you any right to process the company either.
In an open source game on a distribute ledger, at least, you could choose to continue running "the game" as it was. However, most players most likely will go to the new game instance where the rules favor the vast majority and not the minority that was using those overpowered items such that that "fork" of the game will not be worth much.
Yes, that is a better example. I chose a social media site because it's something most everyone is familiar with if they use a computer nowadays, but for anyone who's played an MMPORG, your example brings home the point clearer.