The New Internet failed to provide a clear enough plot, a straightforward enough of a product, nor legible enough of a movement to fend off the effects of value drift. Young people especially want to work on material things that pay well and the New Internet never really had a clear career path attached to it.
More generally, I posit the two keys to understanding Web3 are:
1) Beware of easy money schemes
2) Beware of #HollowAbstractions
When proponents like @cdixon promise riches to come via abstract "mental models", we can gently guide them to focus on money flows and use cases.