[sureklix]

There are lots of points in the article challenging smart contracts because they need a social contract. Ethereum community also understands that social contract > smart contract. See below:

From Vitalik https://vitalik.ca/general/2021/03/23/legitimacy.html:

"...What's going on here is a pattern of a similar type to what we saw with the not-yet-issued Bitcoin and Ethereum coin rewards: the coins were ultimately owned not by a cryptographic key, but by some kind of social contract."

"...Once again, millions of dollars of value are being controlled and allocated, not by individuals or cryptographic keys, but by social conceptions of legitimacy."

So the point is a bit moot, money is not flowing to web3 because of immutability per se. For most venture capital, mainly it is an effort to create a levelled playing field for startups –"decentralized x" etc. For retail investors, highly volatile, information symmetric (perceived) assets.

[trkulja]

Could you expand on the VC part please? What is their exact interest here?