While the explanation presented sounds logical, as always, I fear that the processes you describe this time will take too much time (years). I'd at least consider some short term solutions to counter the perceived errors in the system, to be implemented in the mean time. Which could in turn result in altering the expected processes, I realise.
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It's also completely dehumanizing. It's a SOCIAL network. This sounds like a bot network.
Social dynamics and artificial networks overlap pretty greatly. That's how big data and the sale of it became a thing in the first place. I don't see this as any more or less dehumanizing than Facebook or Google, with an added benefit of the blockchain being more 'human' in many aspects.
I would beg to disagree. People don't log into to Facebook to enjoy an artificial network. They log in to share stuff with their friends and family, and see kittens. Facebook may manipulate the algorithm to sort the content, but the minute the system starts to break that 'human' trust factor, the platform is dead to most people.