Because smart contracts are uneditable, you cannot evolve them, there is no flexibility. Traditional contracting relationships constantly evolve, this is lost in smart contracts
Decentralized Autonomous Organizations (DAOs) have no hierarchical system for resource distribution; the focus is on the decision making of the collective
Will the future bring algorithms that have the capacity for internal evolution? They need to expand on flexibility, this is what makes traditional contracts so powerful
DAO’s existed before (guilds, labor unions). They can do certain things very well but some decisions are hard to make, like competition with another entity, coordination of action beyond initial purposes of the organization