will it work?

No. Not until the Luddites who are preventing it from succeeding so they can maintain their capitalistic slavery continue to breathe.

Web3 is full of scammers tricking you to take your money. Only experts should use it. (we said this about web 2.0 as well)

the tech giants that currently control our online world ... don’t seem equipped to solve the problems of online misinformation and hate.

Yeah, that's the problem. "We're building a new web where someone else will be able to control what you say and read more effectively. This 'old' web sucks because it seems like we're not able to control your access to information well enough to preserve our grasp on power." It's totally gonna work.

Didn't the SEC just nuke LBRY from orbit?

Better create that decentralization from Belarus or Serbia.

Why would I want to buy a $6 million CPU/SSD data center to access the internet?